MEC 0.00% 99.0¢ morphic ethical equities fund limited

Ann: NTA at 12.02.21 Pre-tax 1.4126 Post-tax 1.3097, page-2

  1. BH1
    44 Posts.
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    Attended launch roadshow years ago. lost interest. only prompted today by Ellerston/Morphic webinar as a former EGI holder and current EGMS holder.
    Now at a 16% discount to *post-tax* NTA. Could it be a potential discount capture candidate?
    Performance has been good over last 12M or so.
    Cons: small capital base and market cap <$100m. Thinly traded. Not aware of any other institutional investors with discount capture mandates with stakes...
    Ellerston company may wish to keep the fixed fees coming. As a fund manager though, they surely see opportunity in the ESG space. Main ways to grow FUM for a LIC aren't available at this big a discount.

    Bunch of random thoughts there, all up for discussion.
 
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