I'ts interesting to review how PMC & MFF have travelled in the year+ since this post;
PMC is today languishing at $1.48 (ex. a 4c ff dividend), and are now trading at a 4.3% discount to the last published NTA of $1.5467. On July 31st 2018 PMC had an NTA of $1.7497 and a SP of $1.92, so falls of -11.6% in NTA and -20.8% in the share price (inc. the 4c dividend). The 9.7% NTA premium at 31/7/2018 has collapsed to a 4.3% discount over this period of underperformance.
MFF is today at $3.19 and is trading at a discount of 7.7% to it's last published NTA of $3.455. On 31/7/2018 MFF had an NTA of $2.85 and a SP of $2.65, so rises of 20.9% in NTA and 20.4% in share price. The NTA discount has widened a little to 8.3%.
No prizes for guessing as to which has been the better investment! - It looks like PMC shareholders are now paying for the extended period of underperformance in their fund.
PMC Price at posting:
$1.47 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)