Ann: Funds Under Management - December 2021, page-69

As I said before the economical setting have not changed yet, mostly talking about. It is already showning signs MFG portfolio will do better than indexes in the upcoming environment.
AUD MSCI has been updated after I posted my earlier comments, it is only 1.69% for December 21, worst than my calculation. We have to wait for MGOC number which we calculated as 3%. If that is correct it is a big change around, of course these are early stages.
Some of the really under performance months are dropping off from 1 year figures in the comparison table.

The point of all these numbers is to argue the case that the financial planners and retail investors moving away due underperformance, it will be time to reverse course very soon.
In my opinion there is a misconception about tech and Nasdaq being affected by higher interest rate. Sure it will impact , it will be mostly highly geared and no positive cash flow organisations which will get hammered when they go looking for funds to keep it going. MFG portfolio FAANG, SAP, MSFT is due to higher valuation, which will come down a bit and it has already taken place. But the consumer, utilities have hardly moved, in fact MCD,Nestle,PG has moved up. In fact the ones with high cash balances will make use of the coming cycle to buy over the good new developing companies. So MFG portfolio is very safe and conservative as ever.