As you have correctly pointed out when fund manager under...

As you have correctly pointed out when fund manager under perform to the market for 12 months or so and by a big margin, funds will be withdrawn.
The funds that are withdrawn now in February and last month too, would have been based on end December review. The actions from those reviews are happening thick and fast. The other contributory factor was the management upheaval.
The 12 months performance numbers are given below and there was few months difference was very high, 20% or so. You can imagine investors looking for higher returns else where.
Look at the under performance high lighted in yellow.

	12mth		MGOC	World Index	+/-
1	Jan-22		16.8%	26.9%	-10.1%
2	Dec-21		19.3%	29.3%	-10.0%
3	Nov-21		12.0%	26.6%	-14.6%
4	Oct-21		8.5%	31.3%	-22.8%
5	Sep-21		7.6%	27.8%	-20.2%
6	Aug-21		12.5%	31.3%	-18.8%
7	Jul-21		13.9%	31.8%	-17.9%
8	Jun-21		10.8%	27.5%	-16.7%
9	May-21		4.3%	20.6%	-16.3%
10	Apr-21		7.3%	23.2%	-15.9%
11	Mar-21		4.5%	23.8%	-19.3%
12	Feb-21		-4.3%	7.7%	-12.0%
13	Jan-21		-6.9%	0.7%	-7.6%
14	Dec-20		0.0%	5.6%	-5.6%

But if your decision are based on current performance , say last 3 months. you will begin to look at it from a different angel. I am not sure when that will be, it won't be long. As usual investors will gravitate towards better returns. This journey has been terrible, however that is how it works.
Some of the stocks in the portfolio has hit rock bottom. FB is selling around 14 PE and it is still expected to grow net income around 10%, instead of 20 to 25 % over last so many years. That is why PE has dropped from 25 to 15. Same can be said of Netflex.
I am hoping 3 months period will be considered sufficient time to give a tick of approval for change in evaluation of the fund to gradually stop the outflow and steady the ship. At the end of February 2022 10 year performance of MGOC will be in single digit deficit. Hopefully management remains steady too with new structure of independent chairman and separate chief investment officer.

		Current performance - Last 3 months
		MGOC	MSCI		Under performance
Dec21 to Feb 21		-7.5%	-7.4%		-0.1%