agreed there is still risk with MFG, especially as its a single thematic investment fund manager as opposed to say Pendal which has multiple thematic investment approaches. There is no way I would go 'all in' on MFG. But as part of a diversified portfolio and with keeping position size relatively small, if the share price does decline significantly from $13 I can dollar cost average downwards (depending obviously on the underlying business conditions that cause the share price decline).
In my opinion there is much less risk at $13 than has been the case historically. There is also significantly less risk in adopting a dollar cost average approach at $13 than has been the case historically. Share prices and future total returns are not an independent function of each other, all other factors being equal they are inversely correlated.
MFG Price at posting:
$14.12 Sentiment: None Disclosure: Held
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