Re MGG restructure i believe that's a positive as...

Re MGG restructure i believe that's a positive as you'll be able to redeem Closed End units directly with Magellan Financial Group. Ie say mgg trades at a 5% discount, you can sell that back to them at full price thereby getting some nice arbitrage and giving investors an incentive to chase a certain level of discount to NTA.

I have a bit of PGF and back the PM Capital's underlying strategy - but seem reluctant to take big swings at closing discount to nta quickly. They had a go via proposing TRACRs a while back and now with the 5% off market buyback, but overall would say they'll continue to trade at a 10%+ discount for a while unless something changes.

MFF also held. +1 to what others have said in this thread and in other HC threads. Wise, cautious, experienced management who've been through more cycles and forgotten more than I'll ever know about investing. Low fees. Won't set the world on fire with returns but should be a comfortable long term buy and hold. Eyebrows raised at so much concentration in Visa and Mastercard but use other funds to diversify away. Worth noting that they're also held by a lot of quality oriented funds so could read this as sign of MFF's conviction in their investment merits.
For info i hold the three in the ratio of about 2 MGG : 2 MFF : 0.6 PGF.

Will probably exercise MFFOA options in 3 years time.