Lot of froth is coming off the market gradually. In my opinion once MFG manages to put together 3 to 6 months of out performance against indexes, confidence will return to MFG share price. Investors will have more confidence and it will start to slowly show up in the share price too. It was the underperformance that attracted all the criticism and resulted in loss of FUM over last 12 months for MFG. With the froth out of the many company valuation, which are not making any profit but valued at high price to sale multiples, indexes are not going to beat fund managers over next 3 to 5 years. In fact indexes may be going backwards and fund manager with conservative portfolio will out do over next 3 to 5 years. Lot of patience is needed.
MFG Price at posting:
$18.58 Sentiment: Buy Disclosure: Not Held
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