VS, I just followed FPS/FID since around 2000. It's always been good to me in bull cycles (just don't hold in the bear). This cycle they seemed a bit slow to get profit moving but look to coming good now.
To be honest I tend to focus on the consolidated number. I don't know the rhyme or reason around the up and down split between FM and FP sectors either. I can only assume it's to do with the split between intersegment items. There are no performance fees. I'll ask next time I email them.
Perhaps a larger shareholder than me who lurks around here may know?
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