He also had PPT for comparison. That is one of worst performing companies for last 20 years in ASX. When MFG commenced SP was 75 to 80 range and now $38. I can’t believe this guy comparing these fund managers with MFG. Global interest rates have started to move up and Brazil is thinking about increasing it by 1%, not .25 or .5%. Guess what there seems to be Central government inventions , loosing independence Central Bank enjoyed for short 10 year or so period . Best luck holding those emerging markets as % in your portfolio. Just on MFG portfolio, if not for the A$ going up, MFG portfolio would have gone up by A$ 4.5 B this month. However it will be only about A$ 1 B now, excluding inflows and outflows. These figures are only an estimate as MFG have not published the current updated portfolio with % of holdings. I take this FX hit as a positive as in the future when A$ drops back long term average, there is that 3.5B reserved in the valuation.
MFG Price at posting:
$35.39 Sentiment: Buy Disclosure: Held
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