Long Term Trend AFI. Is management any good?

Apologies for my poor graph skills, but here we see the current problem with AFI. Graph goes back to November 2008, period 190. We have been suffering the worst, sustained period of price discount probably ever. Question is will we revert to long term mean outperformance of about 5%, or are we in a new reality? My second point is to do with the ability of management as stock pickers. There are some 2500 stocks on the ASX. As at 30/6/24 Annual report they have about 56 ASX stocks of which top 25 account of 80.1% of total portfolio. They now have diversified into international stocks, holding 42 of these, but not huge $$$. The Benchmark measurement they use for their performance comparison is the S&P ASX 200 Accumulation Index. For the last 10 years AFI returned 9.1% against the Benchmark of 9.6%. A fail rating. If you graph the share price of AFI for the last 3 years and compare to All Ord index and 2 stocks that track the ASX 200, i,e. STW and VAS, figures are scary. AFI is DOWN 13% for this period, while the latter are UP 5%. So for all their brilliant Finance Degrees, management fees and high salaries I don't think this is a very good performance. Are management interested in excellence and outperformance or being poor index huggers? If this was US based fund no one would touch them. Let's hope things turnaround soon. It's my biggest holding and I am not happy Jan!!!!