Diversified Fee-based RevenueA multi-source revenue model (management fees, performance fees, direct investments, advisory) supports recurring and performance-linked income. Over months this diversification stabilizes cash inflows, reduces single-stream dependence, and helps sustain operations through uneven markets.
Moderate Balance Sheet LiquidityManageable leverage and a reasonable level of cash and short-term investments provide liquidity and reduce near-term refinancing risk. This financial buffer supports continued operations, selective investments, and strategic flexibility across a 2–6 month horizon.
Recovering Operating Cash FlowRecovery in operating cash flow and recent improvement in free cash flow indicate progress converting activity into cash. Sustained improvement would enhance self-funding capacity, lower reliance on external capital, and enable reinvestment or debt servicing over the medium term.