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MFF

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$3.91 mff capital investments limited

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krumo

23 Posts.

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23/08/21

21:30

Post #: 55512017
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Originally posted by cutty: ↑

The age old question... like Peejay said - just go with the lesser of the two.

The terms pre tax and post tax used to mean something, until fund managers decided to play with the terms.

Post tax NTA historically was the wind up price you would get if everything was sold and all taxes paid. It was simple and easy to understand. The end result. No ambiguity.

Now, cheeky managers will quote things like "post tax NTA but before taxes for unrealised gains". In other words, it's actually the pretax figure, because it doesn't account for all taxes payable. It irks me to no end. They have essentially butchered the terms and now you have to read the small print to know what the hell they are talking about.

Their argument is pretax NTA is deceptive, because in reality it does include taxes that have already or previously been paid. Perhaps they are right to an extent - the terms are stupid and confusing.

End of rant. Like everything in finance and investing - it's just the simple made out to be complicated.

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Thanks everyone. Appreciate the insights - guess my main question (which has been answered!) is if you're looking for a potential % discount to the current share price then it's best to take the more pessimistic 'post tax' view.

End of the day regardless of trying to time a discount or not...I like the make up of MFF and the investment strategy plus the fact management also continue to be fully invested.

MFF Price at posting: $2.97 Sentiment: Buy Disclosure: Held
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