Transfer of Analyst and Plans to Cease Coverage of Pacific Current Group
We transfer analyst coverage of Pacific Current Group, and also advise we will cease coverage in November 2016. Since the merger with Aurora Trust in 2015, things have not gone to plan for Pacific Current Group. The fiscal 2016 result underlines how disappointing the transformational merger has been to date. Write-downs and impairments of almost AUD 128 million, and underlying net profit after tax down 30% to AUD 11.6 million. With write-downs to the carrying values of newly acquired boutiques, ...Pacific Current Group is engaged in the provision of funds management services to institutions, master funds and wraps, retail investors and private clients.
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