Ann: Funds Under Management - January 2023, page-22

i cant believe peeps who dont even understand funds management and basic flow data invest in these sort of companies...no wonder they are long

opening fum +- fund perf +- FX +- client inflow/outflow = closing fum

why cant peeps comprehend this?? @lost already did most of the heavy lifting providing mkt and FX, the only unknown was 1/2billion in outflows!!!

peeps are cheering half a billion, yes $500M exit in 1 MONTH?? REALLY.....how is that a good news story???? 60% of which was the HIGHER MARGIN RETAIL.....

if you look carefully at the numbers, retail has barely moved in the month, so fund perf = fx+client outflow ie. retail performance wasnt good - what lifted the result was the insto (much lower margin) performance. This will lead to further retail declines....! your HIGHEST MARGIN earner....!