FII – Market expectations are for Uniform ROA to decline, but management is confident about their dividend strategy and the acquisition of Hermes

• currently trades below historical averages relative to UAFRS-based (Uniform) Earnings, with a 12.4x Uniform P/E. At these levels, the market has bearish expectations for the firm, but management is confident about their strategic value dividend strategy and Hermes acquisition
• Specifically, management is confident in their strategic value dividend strategy, as well as the distribution of FII funds by the newly acquired Hermes Fund Managers