Ann: Funds Under Management - October 2021, page-81

On long term basis Funds will follow performance. At the moment due to the under performance of MFG funds compared to other indexes or funds during Covid period, investors overreacted as usual dropping SP of MFG and valuing at a lower PE.
As I showed in my tables with MFG portfolio performance improving day by day, on the long term investors will follow the better performing fund and very importantly the risk each fund expose itself.
Once the investors relies MFG funds are doing well and beating indexes again they will give a better PE, probably about 17 or 18. It will not go back to twenties as before Covid. Returns from principal investments can change this scenario.