MGF magellan global fund.
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MGF Fund Update April 2021

  1. Arpeebee
    1,202 Posts.
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    13/05/21
    16:21
    Post #: 53156804
    https://hotcopper.com.au/data/attachments/3177/3177383-14856cab95ba15ac2ffc489a7914c9ca.jpg
    Disappointing that no commentary is provided on performance or their exposures with these updates.
    For the first time since restructure 1 month performance has exceeded the benchmark:

    https://hotcopper.com.au/data/attachments/3177/3177415-facd9d753b841ecfcdbc1faa6a8fcaac.jpg

    Underperformance since inception (restructure) has ticked up:

    https://hotcopper.com.au/data/attachments/3177/3177441-1092b46392fc84ff682be0f2962e1a65.jpg

    Holdings and sector exposure are relatively unchanged. No doubt sector exposures to Internet & eCommerce (27%) and Information Technology (12%), with Top 10 holdings in Alibaba and Tencent, having an impact on performance. Interestingly Top Ten holdings are now listed alphabetically and % exposure is no longer declared. As at March 2021 holdings in Alibaba and Tencent combined were 11.8%:

    https://hotcopper.com.au/data/attachments/3177/3177498-6f509cc479e265840c341d24b28b66d3.jpg

    Continuing to trade at a discount to NAV:

    https://hotcopper.com.au/data/attachments/3177/3177509-24919c3a7b557aa17ec3dcbaadea2817.jpg
    MGF Price at posting: $1.66 Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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