absolutely correct. According to my calculations Jul and Aug it collected about 10M performance fees. Even in September MFG funds may have out performed MSCI index. We will know next week. My estimate of MFG fund at end September there will be a significant drop into A$114B range. Difficult to estimate due to change of Tencent and Alibab holding , not knowing the timing. That is minor detail on overall scheme of things. Now for those doubters in the investment banking area about MFG performance, you need to look at last 6 months figures to September 21 or last 3 months. It has out performed every index bar All ord . It is in line with All ord. It has beaten Dow by a big margin. Basically as time goes by and Covid period in the rear view, you will see the out performance of Hamish’s portfolio pick, as it did before Covid.As expected the biggest drag is Alibaba, as I am having at 4.5% of the fund yet. These estimates are assuming there is no outflow at all. We will see the real numbers next week.
MFG Price at posting:
$35.37 Sentiment: Buy Disclosure: Held
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