Business
Australian Ethical warns on fee cut campaign – The Australian Financial Review
Shares in the ethical wealth manager fluctuated wildly after it warned investors profits would fall as it cuts its steep fees.
In the medium to longer term we expect higher levels of profitability as we realise the anticipated benefits of investing in our business and operation leverage from achieving greater scale.
Shares in Australian Ethical fell 2.5 per cent in early trade, retreating from the recent record high of $9.80 a share, but finished the day flat. Shares in the wealth manager are up more than 1000 per cent over the past five years.
The move comes after the Australian Prudential Regulation Authority shocked…
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