They were not in on the IPO - there was another fund that sold out and AEF took most of their holdings for 18c or something silly like that, then they were adding on market at 23c after the first spike in October.
Then they added more at 25c last week as part of a block trade - where 5.6m shares were sold, so obviously there were other buyers (funds) taking a chunk of that block apart from AEF
BTH Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held