The Returns of Ultra Short Income Funds

Bill, so if I were to look at like, let's say year to date total return in next for an ultra short income fund, it's essentially flat on the year for tradfi. What would the returns look like for true fi and do you think those returns are sustainable? Great question. So they would look like over the life of our doing these funds and you can look at this and calculate this, it's high single digits, maybe approaching around 10%. And the reason for that is because if you look at the market cycle we've been through, those were fantastic years,. There was a lot of volume, there was a lots of people making a market and there was a lot

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