That would be the low hanging fruit for cost-cutting.The staff...

That would be the low hanging fruit for cost-cutting.

The staff expense is somewhat necessary, with the larger scale recently, and the app development coming in-house.

The marketing expense is semi-necessary, to make the most of the staff expense (keeping user growth at a high rate).

The ETF cash burn (200-300k PA?) - not much would be lost by ceasing it. Only the potential of it taking off some years in the future.


Over the past year, the SWF ETF Index outperformed the ASX200 by a bit, but the ETF itself didn't, so there seems to be some sort of trade inefficiency taking place. And since inception, the index underperformed the ASX200. The ETF itself would have to outperform for at least a year before usage would start to pick up significantly. Meaning, positive cashflow, if it were to happen, would likely not be within the next 2 years. But cutting the expense now is possible - and it would make SWF's cashflow statement look a fair bit nicer.