I'm not sure you've read that right Markie. I don't think the listed funds give you a great guide to the performance of the unlisted funds that constitute the bulk of the FUM. Overall FUM was +2.96% in the month as against a 2.90% gain in the International Fund (the biggest) but all the other unlisted funds returned considerably more, mainly 4%+. I'd guess there were net outflows again.
I'm not sure you've read that right Markie. I don't think the...
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