MFG in the BUY zone, page-305

MFG is not under performing on long term basis. It had one bad year due to conservative decision they made to protect against Covid threat to the economics. As I said before if you take last 7 months from March 21 onwards , MFG has out performed the indexes. If this is the norm like before Covid, why would you move funds when they are invested in best and safest possible companies you can get in the planet.
On the question of investing emerging markets, the risk are enormous . GQG funds has invested in countries like Russia and Brazil around 2016/17. It was after recession those countries had from 2014 to 2016 in addition to GFC time. Timing was perfect, but I think it was pure luck as that is the time they started these funds.
If you go through the history of the economic performance of these countries for last 50 years + , there is a reason why they are called emerging markets. For Brazil has defaulted 9 times in its history, During emerging market crisis in 1997, Russia defaulted. When these happen they have devalue the currency by fifty, sixty %. I am not saying it is going to happen again and again, but there is a reason why these countries have a economy less than Australia with a population well over 100million.
I understand with such high population there is room to make money . That is where companies like Macdonald, Starbucks comes into play with there own investments in those countries, which are mainly franchises. FAANG companies do business with emerging markets, mainly to sell services to consumers. Risk are minimal.
GQG itself has given a good description of pit falls of investing in emerging markets.