Full Year 2023 Fiducian Group Ltd Earnings Call Transcript
(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.
That's correct.
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.
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