I don’t mind as we are discussing similar company and we should know if there is something better in the market place. But I need real proof to say something else better.
I have looked at the table ‘lost’put out on the 14/10. As I guess in reply, I was wondering whether GQG had some billions sitting somewhere and then invested at the depth of the Covid market meltdown. It sure did from bit of information I read. In 2020 GQG had inflow of $18B early in the year ( I have no idea from where they got funds) and if you had invested around March to May 2020 when the market had crash, before the year out they would double the assets . Very impressive returns. But is this pure luck to get that inflow at that time. This is the other reason you need look at long term performance, not few years like GQG. For Hamish it was other way around when he started in 2007, when GFC hit him just after he commenced. So now I know the reason, because both funds have similar investments except for 35% in emerging markets. I couldn’t work out how one fund did much by than the other with similar portfolio. The comparison became exasperated with MFG taking the conservative option.
As I have discussed before emerging markets,if they have really good period, you can be assured you will run into bad time sooner. Then when the currency falls it can be 50% hit easily. You need to time it really well. With the markets completely recovered, if not over valued, I am happy to hold on to MFG portfolio for next 3 to 5 years.
MFG Price at posting:
$34.41 Sentiment: Buy Disclosure: Held
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