MFG just announced $5.5bln in outflows (0.5bln in retail) today and I can see a large amount getting picked up by GQG for two simple reasons:
1. The flagship MFG product charges 1.35% + 10% performance fee over benchmark, whereas the flagship GQG product charge a flat 0.75%. This is a very easy decision for financial planners. Plus GQG are known to negotiate on fees, especially when a planner can deliver volume. MFG is notorious for not budging on their high fees.
2. Performance performance performance. Sadly retail punters and advisers cannot help but chase returns and GQG are delivering great returns at the moment
MFG just announced $5.5bln in outflows (0.5bln in retail) today...
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$2.73 |
Change
0.070(2.63%) |
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| No. | Vol. | Price($) |
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| GQG (ASX) Chart |