Market didn't like the quarterly update released today.
While FUA increased 14% to 8.2B, growth is slowing. This is now the second quarter in a row of shrinking net inflows (and down 37% on PCP).
Next comp NWL may fare better as market movement hadn't yet bottomed in the Mar-22 quarter (and hopefully outflows peaked in Dec and continue to reduce from here).
Disc. held IRL.![afcb72ea874fca2405670fbe646e37703d9771.png](//strawman.com/member/uploads/objects/63/afcb72ea874fca2405670fbe646e37703d9771.png)