'Fund flows to IOOF’s Flagship platforms during the quarter ended 31 December 2015 were impacted by outflows associated with a large, low margin corporate super account. These outflows commenced in the first quarter and are expected to continue at a diminished rate into the third quarter.'
'Funds under supervision increased marginally in line with market conditions.'
If this market lasts for an extended period of time then the expectations stated above may be overstated with an increase of 'funds under supervision' flowing out of ifl's investment business. The end of the bear market would then reverse the trend and cause some impressive percentage increases in the companies books. In the meantime, averaging down looks to be a solid investment plan.
News: IFL IOOF says as at Dec 31, 2015, funds under management, administration, advice and..., page-44
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