The Return Deception

The numbers don't lie—but the people presenting them do.

When veteran investment manager Emma Gaul realises her "outperforming" wholesale funds are actually losing money despite their impressive 20 %+ IRR claims, she uncovers a web of mathematical manipulation that's costing Australian retirees billions. Her quest for honest performance reporting ignites a battle against an industry that profits from confusion, regulators who've been captured by the very entities they oversee, and a system where sophisticated investors somehow receive worse information than retail customers.

A financial thriller that exposes the sophisticated mathematics used to hide simple deception.