The complexity of the arrangement between IFT and Morrison's is the reason I have never invested in IFT. Seems Morrison's is always going to take the cream.
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The complexity of the arrangement between IFT and Morrison's is the reason I have never invested in IFT. Seems Morrison's is always going to take the cream.
The Incentive fee of $100 million odd is because of an upgrade to the carrying value of the Datacentres, Longroad and Tilt.
Would I be right in assuming this upgrade increases Infratils net assets by about $1.30 per share.
That explains the rerating of IFT. It is usually priced against asset valur per share at a discount.
Question: is the fee announced this morning a one off charge?
not much of a fall yesterday so all good eh
Funny you are downraming a solid stock with a forward PE of below 9 (like SUM) and concurrently up ramping another (as solid, but much dearer) stock with a forward PE of 25 (IFT). Unless you just try to ramp IFT up for you to sell - at some stage pure TA reliance might catch you out ;);
Fundamentals actually do matter :)