Is the recent correction in wealth managers providing a good entry point? I think so. Mark to market downgrades are only minimal at this stage and if the ASX200 holds around 4700 then the 1H14 average will be nicely above 1h13 which should mean revenue growth for the sector. Something that I suspect will be hard to find in FY14.
PTM is my prefered exposure with significant leverage to a falling AUD but you do pay a premium for it. PPT is also looking interesting at these levels given their cost out story will enhance bottom line growth and you are only paying a market multiple on FY14 earnings.
David do you have a preferred pick in the space, WIG seems to have bounced pretty well today. Also note PPT is well of their highs from earlier in theyear.