It ran from $1.90 to $2.70 while fund returns were negative yet...

It ran from $1.90 to $2.70 while fund returns were negative yet was stuck under $1.90 for ages while fund returns were positive so that logic doesn't always hold.
Over the long term FID's profit is a function of FUM, which is up solidly on a 12 month basis and only 3.5% off its all time high reached in Dec (ironically the time the share price was at it's highest). So I care about FUM and relative performance as long as we're not stuck in a multi year bear
In the super industry where there is money that needs investing week after week, the funds with relative outperformance will attract inflows