Ann: Funds Under Management - July 2023, page-7

redemptions difficult to do in July. theres always been a lag to outflows. watch it accelerate back to (-$2bn) outflow next month.

FX finally worked against you and appears to have more than offset any investment gains:

Opening Jun23 FUM $39.7
Net client outflows -$0.4bn
Subtotal = $39.3bn-
Less: July FUM 39.2bn
FX+Investment =(-$0.1bn)

pathetic returns, couldnt even cover the FX loss!!! this will naturally cause more fum to exit.

waiting for the financials - should be an interesting read (red ink)!!! lets see how they dress it up because there is zero sugar coating this...!