i think they did better than that! They suffered a -4.5% swing...

i think they did better than that!

They suffered a -4.5% swing due to FX alone, then a further -$1bn client fum outflow.

so: $Bn
Opening FUM (Oct): 34.3
Client outflows: -1
-FX (LOSS) + Mkt perf: +1.9 (FX wouldve been a significant negative, so returns had to exceed $1.9bn)
= Closing FUM: 35.2

Overall, FUM improved $0.9bn net, after client outflows of -1bn and huge mark to market FX negative swing (finally)! So mkt performance was probably $2.5bn or 7%!)...but, dig further, global equities fell, the best "performer" was the infrastructure equities:

so, did the infrastructure equities receive distributions (further shielding them)???

this mob never splits anything!! all smoke n mirrors!!! always dressing the numbers!!