Hi
@SP007@Chella is not comparing to a benchmark, they are the raw numbers. When the simulated portfolio is used, after fees I get approximately a 4.6% uplift - $113.304B to $118.5B. However when you take into the FX movement from $0.7228 to $0.7523 for the month you get:
$AUD113.304 x $0.7228 = $USD81.896B
4.6% increase on $USD81.896B is $USD85.663B
Convert into AUD and what Magellan will report is:
$USD85.663B / $0.7523 = $113.868B or $564M performance growth for the month, 0.5% as a percentage.
GQG for the month should land on about 2.5% FUM performance growth after fees and FX movement.
Question is how much FUM outflow will there be from Magellan investors?
Note, need to wait for ASX announcement, simulation was based on a sample set of each portfolio.
ps,
@Chella the FUM number you have above for MFG is overstated by $3B for the year.
Best of Luck
Lost
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