Well surely there’s common sense applied everywhere. 1/ if they...

Well surely there’s common sense applied everywhere.

1/ if they have a mandate to reach then FA means little.
2/ they’d then use TA to meet the mandate.
3/ however, they’d obviously look at FA to predict if they will need a heavier load in the future to meet new mandates.
If the answer is yes then they buy more.

and let’s not forget that being overweight can give them ‘hand’ with other instos.

ie. ‘oh you’re looking for Neu are you? Sure, we have some, we need xxxx in company bbbb. Go get those and we’ll talk’