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Thanks Sophie!
But I also wanted to clarify one thing, which I seem to be a little bit confused and is not really dealt with in the CFAI currc. If an outflow is expected to occur, for example within one year from when you are creating the IPS, do you deduct the amount from the total portfolio?
Because it seems like that in some past exams they do and some don’t explicitly mention it – which is making me confused
Thanks!