From an analyst who covers the stock that figure is what they(...

From an analyst who covers the stock
that figure is what they( the company ) have estimated will be the ultimate redemption level. They haven’t seen the physical request come through yet and he said this tend to take a few months. It’s possible that some of these come through next Fy.
It wouldn’t be that bad if we had a bounce on fum related to the market bounce as this Would have covered 80% of future redemptions but the bounce was minimal
if you want to take a more positive view , you could argue this prices the Fum is uncorrelated to the market.
Not suggesting there isn’t any value at these levels , just disappointed to April performance
I sold a few but decided to keep 60% of my holdings and see where we are end of FY