Ann: FUM as at 28 February 2023, page-2

Net inflow of 3 bn USD for the first 2 months of 2023.
This is to compare with less than 1 bn for the last 2 quarters of 2022 (calendar year).
cf @Plague table in the thread "FY 22 results".
So, this level of net inflow corresponds to the level of 1 bn+ per month they had at the time of their IPO.

Looking at total growth of FUM in Feb 23 vs Dec 22 : increase of 3.2 % in USD and (3.6 % in AUD).
Growth (in AUD) :
- fully explained by net inflows,
- absolute performance (in USD) : - 0.2 % (excluding net inflows),
- fx impact : + 0.3 %.

So net inflows are not related to short term performance (S&P 500 has increased by 3.4 % between end Dec 22 and end Feb 23), but to the good past track record (including in calendar year 2022).