zenI think the term "fund manager" implies more than just bums...

zen

I think the term "fund manager" implies more than just bums on seats.

The fund manager would have the responsibility for financing the fund and get fees in return.

If MFS has a better asset ratio they could get financing in situations the CNP cant. And would move the responsibility - and associated debt exposure from CNP.

I would suspect though that this is just one offer put to centro that the media found out about so they needed to respond.

Remember that Centro opened the door last week to any and all offers from anyone interested. For all we know the Woolongong Womens Bowling League Rules Committee has put in an offer from their collective retirement funds.