All Quiet on the MFG front, page-3

It is beginning to show up in the results too.
June qtr MGOC performance was negative, but better than the world index.
July figures based on performance of the portfolio, FUM should increase by around 2.5B. The outflow needs to be deducted , however I expect net figures to be positive. It took good 18 months to turn around.
Now that the shares in the portfolio has been revalued lower allowing for higher interest rates, it looks very safe. If the economy settles down even with a minor recession, these shares have the market presence to maintain good revenue line.
These positive performance will stabilise the outflow in my opinion even though the economy will be unsettle for another 18 months or so.