Can only answer this circumspectly...
For LICs advisers like paying discount to NAV. Particularly where they construct their own portfolios.
Also - bear in mind many advisers use model portfolios. Those that have a dynamic overlay were likely re-allocating from overweight international to neutral as US market surged, which would have had short term impact on flows which should stabilise over next month or two.
30billion there it is!!!, page-113
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