Well IVV was up 4.5% approx - so performance roughly even with SP500 in AUD. What the market expected is another issue, but add some interest on cash and roughly matches.
Not much confidence with flows like that in a favorable market. I suspect the market was hoping a buoyant market would reduce outflows - but does not seem to be the case. I am not really surprised tbh, as IVV was in uptrend from at least Jan to Sep, while flows were bad.
Ann: Funds Under Management - November 2023, page-7
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