State Street is a huge fund , we have no information to find where the money was transferred. Most likely funds were not in Australia, may be UK or USA. The Australian operation is very small from what I can see, but I found a table listing the performance of Global fund ex Australia. I don't think this is relevant to the 23 B that was transferred out, but you can see their performance of 3.78% for 3 months January 22 is poor compared to MGOC 6.4%.. As I said it will be good if we kind find USA or Uk equivalent of the global fund.
Nobody has provided yet any index or fund which has out perform MGOC/MFG over last 3 to 4 months by more than 0.7%. Decisions are being made on old under performance of MFG last 12 to 18 months before the December qtr. Of course all other management and key personal issues are playing out for all to see.
MFG Price at posting:
$18.11 Sentiment: Buy Disclosure: Held
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