@Arpeebee. You seem sane so i will reply to you. The table you have posted is showing only a few months performance since this version of the fund restructured early 2021 to be called MGF. When it first relisted some people decided to pay too much for shares in the short term which ended up trading above NAV so you see a very volatile share price to the downside as the underlying holdings also had weak short term performance. The fund strategy goal is to see outperformance over 10 years. The global fund has been operating since 2006. The NAV of the underlying holdings have achieved 4.47% p.a outperformance after fees since inception in 2006 which are truly long term satisfactory results. This version of the global fund (MGF) acts as an LIC so trades above and below NAV based on short term demand for shares outstanding, buyer sentiment and short term fund performance which is currently underperforming due to short term investment errors and valuations of the speculative and cyclical ends of the market being excessive which magellan do not invest in. Also certain quality undervalued sectors and companies being out of favour due to covid demand factors which makes up 50% of the portfolio eg. Consumer staples, discretionary, energy, infrastructure etc. As well currency factors due to this version being unhedged.
This is the only forum on hotcopper to comment on the global fund underlying holdings as there is not a forum for (MGOC) which is an etf style version of the fund that trades at NAV. MGF is currently trading below NAV so one has the opportunity to buy at a discount and you are also given the option to DRP at a 7.5% discount to NAV. This is a good opportunity if you believe it will trade at NAV again or even above NAV when performance returns as the strategy continues to play out as expected once the world open up and asset prices of the undevalued portion of the portfolio returns and the growth stocks continue to deliver results. DYOR
Alternatively just buy MGOC it is easier to understand and less volatile. Go to magellan website and look up MGOC and you will find my quoted performance tables
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