Q: My Topicus share value is about double the share value of what I have in Lumine and Constellation Software. What are your thoughts about making all three holdings roughly equal or if not equal what mix do you feel is best if considering future growth prospects?
5i Research Answer:
We think making all three roughly equal would make sense over the long term given that three entities are bets on different themes. CSU is a well-established acquirer, but size could be an anchor for compounding. While TOI provides investors exposure to the international vertical market software and LMN is a niche player in the media sector. Therefore, we think an equal holding in each would make sense, investors can also consider a basket bet on CSU's entities as one position.