Hi @lostThanks, I've used the change in NAV of the portfolios...

Hi @lost
Thanks, I've used the change in NAV of the portfolios over the period, might be an easier method?

From 30/09/21 - 1/12/21

Global benchmark +2.05% (9996.4 - 9795.4) / 9795.4
Magellan Global +1.99% (9862.1 - 9669.7) / 9669.7
GQG Global +3.04% (10042 - 9746) / 9746)

Data source:
https://investmentcentre.moneymanagement.com.au/factsheets/mi/n8z0/magellan-global
https://investmentcentre.moneymanagement.com.au/factsheets/mi/q62m/gqg-partners-global-equity


I couldn't find the full holdings of the GQG global strategy, only the international opportunities fund (courtesy of GSAM). Seem similar but less concentrated. This was of 30/09/21.



I'm quite optimistic about the future for both companies.
Main difference between GQG and Magellan is that GQG is very much still in the growth phase in terms of attracting capital whilst magellan is much more diversified with the global strategy reaching a saturation point, infastruture is steady growth and airlie / sustainable in high growth phase and attractive balance sheet investments in Guzman y gomez and Barrenjoey. I'm increasingly interested in buying into GQG given the divergence between the underlying FUM growth and the share price decline.

Magellan remains undervalued. (Discounted cashflow discount rate of 5.92%, terminal growth rate of 1.86%)



GQG is also undervalued.




Magellan will remain a very profitable business going forward, looks like the recent profit slump will be short lived. Looking forward to the next set of results.

Cheers,
Plague.