And the point being?? havent peeps learnt that if you dont strip...

And the point being??

havent peeps learnt that if you dont strip apart the drivers you wont understand the reality?? Many, myself included, have given detailed analysis on each monthly move....just integrate them

Mkts tanked to oct23 which exasperated the client outflows. Fx helped mask a lot of the pain. Then mkts turned, rising tides lifted many boats....they still underperformed and bled more client fum...

pointless...just follow the client OUTFLOW......and relative mkt perf. Strip out useless FX.

headline fum is meaningless. U wasted your time doing that?? Really....wow..wait, makes sense...u hold.

since you went to some effort, lets extrapolate it with the following scenario:
A) aud strengthens
B) client fum continues to outflow
C) mkts tank (may/june)

What will your chart look like in april, may and june??

$30bn fum is not far away....