Ann: Funds Under Management - December 2021, page-116

The point you need to consider is the trend has changed not just 1 month figure alone. For about 8 to 12 months. underperformance was 20 to 26% and on that performance funds were withdrawn. But now you are not going to see that kind of underperformance.
Looking forward I have confidence in the pick up of the profits from FAANG, MSFT, SAP than any other companies around. As it is these companies are carrying billions and billions of cash. End of these month when they report you will see few more billions added to BS. Currently these companies have a drop on valuation, not on ability make billion $ profits under any conditions.
Next few years these company forecast are unbelievable and interest rate increase will not affect the bottom line or ability to pass on any cost to consumers. Consumer and utility will make money as usual with small margins.