A tough month in May for global equity funds with the Global markets down around 6%.
I am estimating NTA for WGB at 31/05 to be approx. $2.25 AUD, down 3c from the 2.28 at April.
Calculation estimate is basic, based on top 20 holdings with equal weighting and fund invested into stocks at 88.5%, this could be a bit out this month as there has been some big variations in individual stock movements this month compared to the overall market so the stocks outside top20 could move the price a bit more than previous months.
NTA was helped a lot this month by a +1.6% move in currency. (aud down)
I will be Interested to see if the investment team took any profits on any of the top20 stocks prior to the this 6% (so far) pullback or we locked into top20 for long term. (particularly logn.sw where I saw a news note where other funds had exited to take some good profits).
The investment in Myer was also quite interesting , wasn't expecting them to do investments in Australian stocks, not sure if anyone else has a view on this.
Moved my sentiment to hold while we are on this global pullback , but still a long term buy on the discounted price to nta.
WGB Price at posting:
$2.02 Sentiment: Hold Disclosure: Held
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