when I look at the valuations of mere administrative platforms, MFG looks in a better relative light. I'd much rather hold the underlying fund manager, with the potential for performance fees again down the track again. Warren Buffet is lauded for his efforts with Berkley Hathaway, but don't forget that is a fund manager vehicle too, collecting investment fees and performance fees over the years. Its the accumulation of client FUM, fee income, market growth and an annuity income stream that is attractive. MFG will face some base fee pressures, but most long term clients will look through this period of underperformance. Better the devil you know. I've taken a strategic position at this level, mindful there could be some further limited downside if a market correction ensues next year. However, things tend to come in threes, and they've had their three this month! The upside potential over 5 years is compelling.
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Last
$9.44 |
Change
-0.050(0.53%) |
Mkt cap ! $1.706B |
Open | High | Low | Value | Volume |
$9.53 | $9.67 | $9.42 | $3.361M | 352.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1229 | $9.44 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$9.45 | 1457 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2000 | 9.430 |
3 | 2488 | 9.420 |
3 | 7213 | 9.410 |
3 | 4769 | 9.400 |
3 | 6147 | 9.390 |
Price($) | Vol. | No. |
---|---|---|
9.450 | 884 | 1 |
9.490 | 912 | 2 |
9.500 | 1769 | 1 |
9.510 | 1769 | 1 |
9.520 | 1769 | 1 |
Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
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MFG (ASX) Chart |