Interesting seeing PGF appear as a (very small) holding in the MFF portfolio with several other international focused funds.
I can understand the holding in PGF as it is trading at a significant discount to NTA, but I cannot see how they can justify holding MGG, MHH and PMC. Purchasing at a discount to NTA can add value, although purchasing other funds close to NTA who are transparent with their holdings just add an unnecessary layer of fees.
MFF Holdings at end of May:
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