My only question would be is, do they have too much money to handle and this is why MFG's performance has suffered this year?
Both PTM and MFG point to the lower performance being due to risk mitigation in this point in the cycle. If both approaches are the same shouldn't FUM performance correlate in the short term? Should MFG be valued the same as PTM due to similar approaches?
Not too concerned about MFG's other investments as I believe this is noise compared to the underlying business. Other investments may do well, but will the Fund Management business hold up or is it in decline, similar to PTM? If they aren't performing the same as others in the market with similar strategies, will they be able to convince customers to continue to invest their money with them?
Best of Luck Lost
MFG Price at posting:
$39.51 Sentiment: None Disclosure: Not Held
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