The Concensus fund isn't a truly passive index tracking fund. They adjust their regional allocations quarterly, based on the concensus of other active managers in the market, and then buy/sell the index within those regional allocations.
Is it me or is the financial world being taken over by people called Geraghty? (Gerard Geraghty, Authorised Advisor mentioned here on this site, John Geraghty, top man behind LA Brokers, Tom Geraghty, Mercer man from this article...)
Could it be part of a neo-communist plot to destabilise Western civilisation?