Australia's largest stock trading and investment forum Australia's #1 stock forum

MGF

Click for more information

0.00%

$2.21 magellan global fund.

Ann: MGF Fund Update - February 2021, page-131

First 131 Last

Share
Profile

Follow
cutty

3,375 Posts.

445

02/06/21

21:16

Post #: 53605259
Share

Originally posted by Arpeebee: ↑

Would appreciate your clarifying 'misalignment of incentives for fund managers".
Both the open and closed funds have a Management Fee of $1.35% and a Performance Fee of 10% (subject to relative hurdles).
The closed fund continues to trade at a substantial discount to NAV and this is the problem for existing unitholders who are unable to realise their holding at par even with the 7.5% discount. Currently units are trading at a 12% discount:

Unfortunately managements efforts to bridge the gap with Partnership Offers and Share Buybacks do not appear to be working.
I note that halfway into the buyback (6 months), only 22% of the units intended to be bought back have been.
I am still trying to fathom the logic behind the options. The exercise price today is $1.74 based on NAV $1.88. Closing unit price was $1.665 and options $0.026. Why would you excercise?

Expand

you wouldn't...

MGF Price at posting: $1.69 Sentiment: None Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

Bitcoin investors need to know the risks

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

ASX hits all time high out the gate on Friday trades following bullish US inflation data

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

BHP

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

SKS

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

There are more pages in this discussion • 391 more messages in this thread...

First 131 Last

Add MGF (ASX) to my watchlist