Aug 16, 2023 / 02:30AM GMT
Indy Singh - Fiducian Group Limited - Executive Chairman
(audio in progress) something like $12.3 billion. And as of August, I think a lot more than that. So we started okay. We closed at $12.3 billion. But actually, the average was a little lower than last year.
However, it spells a good reason for the stock because we're starting from a very high point of $12.3 billion. And as of now, I think, Rahul, you said it's about $12.6 billion.
Rahul Guha - Fiducian Group Limited - CFO & IR
That's correct.
Indy Singh - Fiducian Group Limited - Executive Chairman
It's already $12.6 billion. And it's a good starting point, which is much, much higher than the $10.9 billion, I think, we had in the previous year's start. You can see that over the term, over this year, there are a few transactions that we've had to absorb.
The first, obviously, is that the fees were reduced. There was pressure from APRA to all superannuation funds. And we were no different, so we reduced our fee as well to be competitive.
Full Year 2023 Fiducian Group Ltd Earnings Call Transcript
Aug 16, 2023
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