Simon, the higher-margin funds business is not high margin at all...they would be losing money (or at best breaking even) with that low level of FUM in the Smartfunds range...they need to either grow it aggressively, shut it down or sell it...and I'm not sure their relatively poor past performance track record will allow for the first of those options, so shutdown or sale would seem more likely.
Simon, the higher-margin funds business is not high margin at...
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