Net asset position

Does anyone have a feel for the current net asset position?

Just looking at the price action, it's hard to believe that $4 will hold, but if they still have >AUD125m of cash and investments + no debt, that's a reasonable base to rebuild from (although I note people's comments around the need for confidence in a fund manager and that this has been tarnished, which will make the rebuild hard).  Not one I've looked at (hence the question) and not one I would look at until I know the extent to which BLA's earnings is comprised of fees into retail funds (which don't look sustainable); but I'm interested in where the net asset backing lies.

From their last report:
▪ $153.6m of net tangible assets ($2.23 per share), including $44.6m of net cash (i.e. no net debt) ▪ $68.3m of financial assets at fair value reflect co-investments made in 26 separate funds and fund related entities, primarily as alignment capital alongside institutional investors ▪ $12.8m of investments reflects equity accounted value of joint ventures (Cove, Student Quarters) ▪ $13.9m increase in non-current trade and other receivables driven by strong investment performance coupled with significantly larger scale, leading to a total of $37.1m of accrued performance fees (across 19 separate assets). Noncurrent trade and other receivables also includes: ▪ $19.4m of investments structured as loans into Blue Sky managed funds and fund related entities (FY17: $15.8m); ▪ $7.6m of management fees due to be paid in >12 months; and ▪ $2.5m of employee loans, provided as matching loans