4 ms·
Correct. They bought the business and future cash flows but the AUM are not included in the valuation beyond the extent to their contribution to cash flow.
by rwc 7y ago
Correct. They bought the business and future cash flows but the AUM are not included in the valuation beyond the extent to their contribution to cash flow.
- OJFord 7y agoSorry, I'm still confused, you're saying the $360B 'assets' figure is assets under management? Seems an odd way of describing it, so I didn't even think of it at first, but I can't see how else 'assets' would be so much larger than the valuation.
- icedchai 7y agoYes. Every article I've seen mentions "retail client assets" for the $360B.