Ann: Response to Media Speculation, page-20

Apparently they are the dominant buyer of the transact able water rights.

"But Morison's main purpose for talking to Chanticleer was to dismiss the persistent rumours in the market that the water fund, which has returned 140 per cent since its inception in 2012, is propped up by the fund's own buying of water."

"The widespread accusation circulating among hedge funds is that the Blue Sky Water Fund is such a large buyer of water that it has become the market in Australia. The rumour goes that as soon as investors realise this structural flaw in the market there will be a run on the fund caused by nervous investors lodging redemptions."

https://www.copyright link/brand/ch...son-comes-clean-on-governance-20180627-h11xrd

The issue that is at play here is that its such a complex market, by design, that understanding the underlying value of the assets and the market is hard to calculate. That wasnt an issue when people trusted Blue Sky, now they don't, so it is.