Next weeks FUM update is being keenly anticipated by the market. The one month share price performance (see below) is at odds with what has been a pretty green month all round for most stocks/sectors.
After a positive response to the April FUM update took the sp to $2.40 plus, the ongoing strength of US big tech (ie that Rajiv has stepped right away from) clearly has the market nervous about the beginnings of a hit on FUM being felt through May.
I think in time Rajiv will be proven right. He has an impressive record in terms of timing his moves in and out of sectors.....but it's impossible to get the timing spot on every time. In the medium term we might have to suck up some more share price weakness.
In the immediate short term however it's all about next weeks FUM update. There will no doubt be a reaction to that - could see $2.40 again if the FUM has been resilient....or a further slide from current levels if underperformance has started to cause some outflows.
GQG Price at posting:
$2.15 Sentiment: Hold Disclosure: Held
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