The only problem with GQG in my opinion, is that whilst GQG FUM has held, the whole market has de-rated the PE its prepared to pay for funds managers. GQG listed at a PE of 16.5 to 18 from memory at a share price of $2.
I don't think the market will be paying this sought of PE multiple for a while.
Maybe GQG share price will hold, and maybe it wont,. Also note that GQG dividends will NOT be franked. Which reduces the value of those dividends for Australian investors.
Now compare that PE multiple against future earnings expectations for the value players including MFG.
Disclosure: I am long MFG, PDL, PTM, not ready to strike yet on GQG.
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