CEO David George has purchased a bunch of MFG and associated funds on-market.

The MFG purchase is ~ $250,000, so that is good to see.

Exactly what you don't need on a Friday evening after market close. One of your companies going into a halt pending the loss of a material contract.

This recent habit of announcing bad news after the market closes is grating.

For what is possibly the strongest fund management franchise in the land, with a well-credentialled and aligned management team, the shares are reasonable value here as a core portfolio holding.

Trading a shade below the market multiple too (around 17x, 13x pre-tax) for a business that is far superior to the average business on the ASX.