True, FUM went down last FY. But not this FY. Look at future....

True, FUM went down last FY. But not this FY. Look at future. FUM is not declining. Over last few months it's been going up - quite a lot - because the funds have been performing well. Look at the Asia Fund for example. Figures are all there on the Plat website. It went ex div $16.5c June 30 at $2.71. It is now ex div at $2.76, having fully made up the div and more. This is an 8% return in a few months. You only need to look at the latest fund prices to get an advance indication of the fund.
And a word about Jacob. His newly started fund has not done very well. And it's tiny/ In fact, none of the internationally focused fund managers have done very well. Look at Paul Moore's PGF. Or Hendersons or Shroeders or anything that is not a blind index fund benefiting form monetary policy. That won't work any longer.
I guess you could jump ship, ditch them all, back up the truck and buy all the favourites but I wouldn't be betting against a cornered beast like Kerr Neilson at these levels.
Having said all that, I'm sure that PTM will be smashed down by bots until it is returning a 100% fully franked yield while world frets.