Ann: Funds Under Management - December 2021, page-130

It didn’t take long for all MFG distracted including AFR gang to get into action to criticise the first good results posted by MFG for more than 12 months. To state it again for month of December MGOC outperformance was 1.4% over the MSCI index.
Importantly 3 months under performance of MGOC is down to 0.7% to December 21. For most of last year this figure was in the range of 3.5%. Trend is pretty good and it does not have to beat indexes every month.
Clearly the talk of interest increases and removal of liquidity from economy is starting to impact. Remember all the federal reserves are doing is only talking about what they intend to do, no action yet.
I noticed this good trend seems to be annoying few people. For MTD 14 January 22 of MGOC has underperformed by 1% to 1.5%, which is correct.
First of all that is not the trend, half a month figures are being thrown around to prove their agenda.
If you analyse little further for January MTD movements, you can attribute most of the underperformance to MSFT 10% or so reduction. With interest rates moving up these tech stocks were going to be valued little less due to DCF. So has Netflex.
Who wants to guess expected comparison performance of MSFT to other stocks including indexes over next 12 months with high inflation. I would say MSFT will be least affected by cost increases. The more weight MSFT has in portfolio, it is going to do better.