I haven't much to say about the report but I did not expect any...

I haven't much to say about the report but I did not expect any more.

They have increased the NTA from 8.25 (7.96 at) in Feb 2012 just after the takeover to 14.6 (13.18 at) last month. That's a good 77% increase (66% at). In comparison the ASX300 has gone up about 28%.

The NTA did get as high as 15.98 in Dec 2013 so short term performance NTA is not so hot. We are working in the dark about possible reasons why its gone backward last year but I am happy to wait. There could be lots of reasons but I am sure the auditor makes the monthly NTA figures correct.

Personally, I am all about the numbers and do care that much about the stories the other fund managers tell. Half the time I don't think they are relevant and the big guys are probably talking their own book to extract short term profit.

The association with SNC is interesting to me with the CEO of MVT being chairman of SNC. I am guessing there will be corporate action one way or another with these two.