Computershare Limited (ASX:CPU) will look for acquisitions. Stuart Irving said during the 1H Fiscal Year '24 Results and Conference Call, "Operationally, in the second half, we're going to be focused on continuing to deliver the planned CCT synergies, our digitization projects and continued rollout of EquatePlus along with a range of existing and new cost-out initiatives. To complement our organic growth, we'll also continue to patiently evaluate our pipeline of acquisition opportunities and continue with the buyback.

As I said, we have the balance sheet capacity to self-fund our growth, strengthen our businesses and also reward shareholders. We will continue to execute our strategies to build a simple computer share with higher quality earnings and better returns and it's the execution of these strategies that lay the foundations for future growth. Now we've shown you more about what that Computershare looks like today.

It took a little bit of leap of faith to see the core strength when we first spoke to you about it back in 2022. The simpler Computershare will be capital light, more cash generative and will deliver higher returns for shareholders. We should also have more consistent earnings with our increased hedging and that's important in an uncertain rate environment.

But just on that rate environment, perhaps a simple way to look at this would be on a sort of mid-cycle basis. Now I still think that if we assumed interest rates were at 3%, margin income in the group should still be around $600 million per annum with over $250 million of that locked in each year. So as you can see, Computershare is performing strongly, has multiple growth options and a strong financial base, and we're well placed to continue to grow recurring revenues, benefit from cyclical recovery in some of our events and transactional-based businesses and capitalize on attractive M&A opportunities".