I share your concerns rcs. The 7.5% discount was hardly a giveaway. Units have historically traded at a discount. Since the Partnership Offer was announced units have traded at an average discount of 4.28% and more recently this is deepening:
It is probably too early say if the Partnership Offer will work to narrow the gap. The On Market Buyback does not appear to be working. Only 2,176,244 of the 124,162,911 units have been bought back since the announcement on 30 November.
Given the funds under performance it is disappointing the update does not provide any commentary.
Unfortunately, since the de-listing of MGG there are only 3 monthly updates to revisit and they do not provide any answers.
Interestingly whilst cash holdings have reduced from 8% to 5% performance has worsened:
Ann: MGF Fund Update - February 2021, page-10
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Last
$2.20 |
Change
0.025(1.15%) |
Mkt cap ! $3.301B | |||
| Open | High | Low | Value | Volume |
| $2.19 | $2.20 | $2.19 | $6.836M | 3.116M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 229482 | $2.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.20 | 92453 | 16 |
View Market Depth
| Last trade - 15.04pm 06/06/2024 (20 minute delay) ? |
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Last
$2.20 |
Change
0.025 ( 1.39 %) |
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| Open | High | Low | Volume | ||
| $2.20 | $2.20 | $2.19 | 320541 | ||
| Last updated 15.24pm 06/06/2024 ? | |||||
| MGF (ASX) Chart |