they had BOTH FX (5.2% fav movement) and distributions to prop up their languishing FUM this month and still fell -$0.5bn, -$0.4bn of which was client outflows (consistently).
so (net of the $-0.4m client client fum OUTflows) -$0.1m movement = fund perf (NEGATIVE) + FX (positive) + distrib received (>+$0.6bn as there are reinvestments on top) impact, implying that they experienced significantly large negative monthly performance that offset the massive FX benefit and distributions received into the funds and are currently reflected in the figures (to be paid out in Jan25 - where fum will fall again)....
and, of course, the regular -$200m retail (highest margin) client outflow....the nose bleed continues unabated....rightly so with NEGATIVE fund performance, shielded only by FX and fund distributions (no effort from mfg).
MFG Price at posting:
$10.85 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)