Better market performance doesn't really disguise FUM, because FUM is always a measure of both invested funds and fund performance. That's how FUM was measured before the invested FUM outflows, and remains so now.
The current investing environment /market is also a bit different than it was when most of the invested FUM outflows occurred. Then, the investing strategy was overly conservative so suffered in the bull markets of 2020-21. Now, we may see an improved performance in a different environment.
I think stabilisation can - potentially already has, occurred.
Caught the knife, am comfortable with that and patient enough for the upside. Might not be $35 (or might be), but at $16.34 currently, there's some reasonable room to grow.
MFG Price at posting:
$16.34 Sentiment: Buy Disclosure: Held
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