Ann: Earnings Guidance, page-23

There is constant confusion about AEF and what ethical investing means. I hope to god that AEF never invests in any renewables projects or any other non-sense like that, because their performance will suffer. I dont object to those projects a such, but if I wanted to invest in those things I would do so directly.

Whatever anyone thinks that the Democrats will provide to make a more sustainable planet it will not make the planet any more sustainable. They have had plenty of chances already , so not too sure why anyone believes it will be different and really the election is not so relevant here, apart from the Georgia run off election which may cause a mega stimulus (due to Dems controlling both houses).

Great to see the continuation of their outperformance again and helping to justify being one of the most expensive fund management business on the listed market.