I think you're being a bit tough there.
PER only 30 on a static basis. Asset base took off in back 1/2 of the year.
Plus reliance on performance fees is only a couple of percentage points.
Yes - key risks are currency appreciation and outflows. But trends for both remain, at this stage, favourable for the business notwithstanding one month of poor flow data which should be acknowledged.
Cost to income ratio looks great. Anymore mandate wins straight to.bottom line now with that kind scale.
Upside: mandates, stable currency, potential future performance fees which could be substantial.
A buy to about 13 50ish in my view.
JT
I think you're being a bit tough there.PER only 30 on a static...
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Last
$8.49 |
Change
0.000(0.00%) |
Mkt cap ! $1.461B | |||
| Open | High | Low | Value | Volume |
| $8.50 | $8.67 | $8.48 | $3.088M | 361.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1950 | $8.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.59 | 5048 | 2 |
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| Last trade - 16.10pm 27/06/2025 (20 minute delay) ? |
| MFG (ASX) Chart |