FY22 results in.

During challenging microcap conditions, performance fee income increased by 8%, client numbers increased by 25% and recurring revenue (management fees) increased by 39% [all compared to previous year].

Latest investor update indicated that some of the companies invested in the flagship fund are subject to takeover. If they all are successfully taken over it will free up around 25% of the invested capital in that fund to be invested in other opportunities during favourable investing conditions (after the recent drawdown).

Final fully franked dividend of 2 cents.

As an investor I'm excited to hold this as the largest position in my portfolio at ~25% as the company grows.

Interestingly the performance of their funds appears to have been hammered to the tune of -137% [compared to last year] but an increase of 25% in client numbers ( increasing by 191 clients) saw FUM grow by 7%!