QLT at R43.42 is trading at a reasonable valuation for a wealth manager, but you need to watch the dividend…by @k_maphosa on $QLT

QLT at R43.42 is trading at a reasonable valuation for a wealth manager, but you need to watch the dividend yield relative to interest rates - if rates stay elevated, retail clients get less incentive to take equity risk and that flows through to AUM growth. The earnings resilien