A bit of a combination of the two recently but overall the...

A bit of a combination of the two recently but overall the largest influence has been investors pulling money out.

See performance vs appropriate benchmark again for each.

For the Australian fund to be lower than the market last month is a joke since they had 20-30% cash in the portfolio. Shows the stock picking is shocking. Where is the 'absolute return?

It still baffles me that there was a $10m inflow into the Small Cap Fund. The performance is horrendous.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9	Column 10	Column 11	Column 12
0	Fund Name	APIR Code	As At Date	1 Mth	3 Mths	6 Mths	1 Yr	3 Yrs	5 Yrs	7 Yrs	10 Yrs	Inception
1	S&P/ASX All Ordinaries TR Index AUD	*Benchmark	31/10/2018	-6.47	-5.88	-0.55	3.07	8.26	6.19	9.05	8.61	9.06
2	K2 Australian Absolute Return Fund	KAM0101AU	31/10/2018	-7.18	-8.38	-5.92	-0.64	3.93	4.16	7.51	8.35	10.74
3	S&P/ASX Small Ordinaries TR Index AUD	*Benchmark	31/10/2018	-9.6	-7.67	-4.22	2.59					7.48
4	K2 Australian Small Cap Fund (Hedge Fund)		31/10/2018	-6.8	-5.67	-4.37	-4.37					3.21
5	MSCI AC Asia ex Japan NR Index AUD	*Benchmark	31/10/2018	-8.99	-8.73	-12.2	-6.56	6.45	8.32	10.35	9	7.07
6	K2 Asian Absolute Return Fund	KAM0100AU	31/10/2018	-7.32	-6.42	-11.91	-8.64	-1.59	3.45	6.67	7.44	9.13
7	MSCI AC World TR Index AUD	*Benchmark	31/10/2018	-5.54	-1.68	2.58	8.19	8.57	13.08	15.87	9.55	8.9
8	K2 Select International Absolute Return Fund	ETL0046AU	31/10/2018	-5.59	-3.22	-3.33	-2.9	1.99	7.39	9.72	9.97	9.82