Do you know the strategy behind the fund? It has a long-term growth profile investing in solid businesses that have exposure to developing markets. It's design is engineered for scale given the liquidity of underlying investments is significant due to being large cap and listed on less risky bourses. 4b to 12b quite doable IMO.
Valuation-wise may be a tick ahead of itself but this fund lends nicely into portfolios as it's unhedged and supported well in the advice community as not many direct competitors.
Sometimes simple is sophisticated. Hamish well regarded too.
Unlike Perpetual who relied on a stock-picking guru the investment process is not single person dependent IMO. Easy to replicate the process, not easy to replicate the success they're having with their distribution channels. They will achieve scale in the flagship fund and are well positioned to leverage this in future. Probably a hold for short term until next reporting season provides more certainty.
MFG Price at posting:
$6.61 Sentiment: LT Buy Disclosure: Held
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