I agree with some of the comments from others that people are making bit too much of the recent underperformance. If this were an LIC where your only exposure was to their funds holdings I would be tempted to buy some as the market threw it out with the bath water.

However, being that you are investing in a management business here, you have direct exposure to investors acting irrationally and withdrawing their money via outflows. So unlike some other plays this is not the sort of thing I would touch while sentiment is bad.