From past expereince, most likely opening flat.. What you are...

From past expereince, most likely opening flat.. What you are investing in is a managed fund, similar to MFG.

GQG is a very similar profile to MFG IMO, and almost similar in size. The key points are (at current market prices) -

- Both have (or will have) a Mkt cap around $6b AUD (do note that GQG is only floating 20.1% of its valuation)
- MFG's current P/E is around 14x while GQG on listing will be between 16.5-18x (depending on the price)
- GQG forecasts to return a 5 - 5.5% dividend return with no franking. On the other hand MFG's dividend return is epxected to be 7% with 75% franking
- GQG's target is to pay 85 to 95% of earnings as dividend. MFG's policy is to pay 90 to 95%

IMO, the only edge GQG has over MFG is thier performance since Covid struck. MFG has poorly performed over this period in comparison to any other fund due to thier defensive strategy. But thier historical performance speaks volumes.

If you expect a premium at listing, you will be disappointed as these are generally purchased for long term dividend returns. The share prices increases with the increase in FUM.

Hope that helps.