yes agree with reasons given. Without accounting for fund inflows or outflows, My estimate for FUM is around A$114B, steep pull back. The rest of market too. However, for the qtr it is A$15B more than last year. As performance fees was hardly any last year EPS will be about 20cents higher than last year for the first half. I am quite confident over the performance over the other indexes. What I am looking for is the institutional fund withdrawal figures. As I mentioned before, MFG has been better than other Aussie and US indexes for last 3 or 6 months. Logically speaking there shouldn’t be any major withdrawal of funds, but worse things have happened. Let’s wait and see.
MFG Price at posting:
$34.72 Sentiment: Buy Disclosure: Held
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