Well they are still keeping the qly performance, especially net...

Well they are still keeping the qly performance, especially net flows, of Lighthouse and MAS a secret, although at least we have a breakdown over 6 months. I guess they want to keep that info to themselves, and have a lower SP to factor in the slight bit of extra uncertainty from them being opaque. Either they can't help themselves from being secretive, or there is something in the qly numbers that they don't want us to know - I might suspect Lighthouse had some redemptions in the last quarter. Worth asking if anybody will be allowed to ask questions.

"At the Annual General Meeting on 28 November 2018,
we advised that we considered a loss of 25% of the initial $5.4 billion of assets transitioned would be a
reasonable result. We hit this number as at 31 December 2018, a key driver of which are certain custom funds
that transferred earlier than expected. Redemptions for the remainder of the 2019 financial year are expected
to in normal ranges for the six-month period. "

What is a normal range now? That bit sounds promising all the same, as obviously they can't predict the future.