Why the big fall?, page-4

To fall in line with the market is acceptable, to fall this “hard” without any apparent reason is inexplicable particularly in the absence of any bad news or announcement from the company. Maybe it’s seen to be in the same category as Magellan and Pendal, but of course it’s not a fund manager in its own right… it’s a business investing in fund managers who depending on their performance may lose customers, but will seldom lose capital. In any event, PNI are astute judges of business “character”, and I am “guessing” that their partner companies will continue to add FUM as they are all “blue ribbon” fundies. Love to know who the entities were who sold down so hard and so fast ! There must have been a reason, but why ?
Signed…. longest of long-term holder !
@lost