Start with the Seed investments, then discount them by 30-40% (LICs trade at a ~20% discount, and they are liquid to holders). The extra 10%-20% is probably value destruction on any acquisitions.
Then strip out any at least 50% of intso mandates, they are possibly walking or at very least asking for fee discounts.
So you have the "sticky" retail FUM. That's the other big value in the firm other than the seed.
Then discount that by 20% for lack of growth strategy.
What's that worth, certainly not $1.40 (completely IMO!!).
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Last
$1.07 |
Change
0.015(1.43%) |
Mkt cap ! $620.0M | |||
| Open | High | Low | Value | Volume |
| $1.06 | $1.10 | $1.06 | $1.973M | 1.843M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 59 | $1.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.07 | 45051 | 3 |
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| Last trade - 16.10pm 18/06/2024 (20 minute delay) ? |
| PTM (ASX) Chart |