With the demise of Vocation, sector sentiment is about as bad as it can get

With the demise of Vocation, sector sentiment is about as bad as it can get. We have taken advantage of this to add NZ's largest education provider Intueri (ASX:IQE). We believe it has been unfairly tarred with the Vocation (ASX:VET) brush and sold down on a baby out with the bathwater approach. Trading on a 10-11x multiple and 6% yield with upside from acquisitions, we think the market has got this wrong.