Ann: Net Tangible Asset Backing, page-33

Joshi and Ross both left at the end of last year around December which coincides with when performance became terrible. They were there for quite a few years and I remember seeing them speak at every presentation for a number of years. I don't have that data but if you use 1yr and FYTD from their NTA as a proxy for performance this year it shows the same bad picture. Remember to add October's shocking performance on to those numbers too!