Question for O'Leary Fund Management on 2012 AUM figure

Here is an email I sent this morning to the people at O’Leary Funds management. Given the confusing way they present their financial statements, as acknowledged by Kevin O’Leary in his May 2012 interview with the Globe and Mail, it made sense to go to the horse’s mouth to find out what the AUM figure is a year later (ie, FYE 2012 vs. 2011). Pending their confirmation of my calculation, I’ve blocked out the AUM drop figure in the hopes I’ll get you an answer shortly:

To whom it may concern

According to a comparison between (A) (i) public statements made by Kevin O’Leary as appeared in the Globe and Mail on May 24, 2012, (A) (ii) a press release posted on your website regarding the firm having $1.2 billion of assets under management (AUM) as of the end of 2011, and (B) the individual monthly fund fact sheets posted on the O’Leary Funds website (current as of December 2012), it appears that net AUM dropped by $XXX million during 2012.

Before I outline this information as an Opinion Piece in my blog, I wanted to provide O’Leary Funds with the opportunity to confirm or deny these calculations. Obviously, I will add your commentary and discussion to the text of the pending post in question. As well, I would be happy to provide a comment or clarification about the apparent [double digit percentage] drop in AUM over the course of last year.

According to the “Contact Us” section of your website, this is the only electronic and immediate avenue for contacting the firm.

I am hoping to proceed shortly, and would be grateful for a timely response.

Thank you, in advance.

MRM
(disclosure: this post, like all blogs, is an Opinion Piece)