Pretty sure it is a legacy unitised SMA structured product mate so I doubt its a big expense unlike running a traditional unitised fund / multi-asset strategy. Management have already said they expect it to got to zero anywho. Shouldn't be around much longer but the other one (think its their international models) looks to be gaining traction and bottoming out with fund outflows so that revenue stream may stick around.
Pretty sure it is a legacy unitised SMA structured product mate...
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