We started looking at this because I was saying ASX MFG group fund management has out performed other market indexes for last 6 months. You were quoting performance history of MFG one fund, which is MGOC I think. This is only 14B of the total 113B under management. They have other funds too world over. We are looking at ASX code MFG which is the sort management company, managing A$113B. Now you are disputing the numbers. If you like go back 1 January 21 to Sept 21 funds under management, you can funds increased from $101B to $113B with roughly 2B outflow. These numbers are ninth in dispute it is in the monthly FUM release of MFG. The return is 14 to 15%. Again the point is in total MFG group Funds have gone up by about 15B due to performance. If you do the P&L for MFG for 2022 FY on $115B, Consensus EPS is $2.50 to $2.60. That means current PE is around 13 or 14. The noise we get in the finance community is as if MFG has performed badly for ever and they are continuing the same way now. Bad performance was during Covid drama.
MFG Price at posting:
$33.12 Sentiment: Buy Disclosure: Held
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