I am not sure the priority changed just the passage of time and circumstances around Harvest Lane and maybe others agitating. They still might prefer FUM and fees, they simple realize if they did not do something like this soon, within a few years they would struggle to get too much fee revenue out of it. Either the fund would get wound up or they convert to open ended and most investors redeem straight away.
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- Ann: Appendix 4E and 2023 Annual Report
I am not sure the priority changed just the passage of time and...
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