Hi Ciao. I’m a long term investor but I can’t comment for other...

Hi Ciao.

I’m a long term investor but I can’t comment for other posters.

My reason for hold PAC is that I find the shares externally under valued. We know the value of GQG to PAC being approx $240M and with about $80M currently in the bank you are getting the other boutiques which are delivering $30M in revenue to PAC for only approx $50M. I believe the value will be hopefully realised in time ,along the way I’m receiving a dividend near 6%fully franked.

The other reason I’m holding this company is I find fund managers extremely easy to understand. If you can capture a fund with net positive inflows and growing markets over time you get a double uplift in revenues with stable overheads going forward. This leads to above growth EPS.

I only tend to sell if management make to many mistakes or I will sometime trim a position if I think a stock has run to far. A company I would put in this category at the moment would be PNI. The problem with selling is in that sort of instance it creates CGT. Unfortunately I missed an opportunity here but would definitely add share if I thought the price was attractive enough.


I maybe biased in my thinking as my total portfolio is made up of PAC,FID,BFG,EZL,MFG,SEQ,with PAC my biggest holding and SEQ the smallest. I’ve held FID,BFG,MFG for about 5 years PAC I resumed a position about 18 months ago and EZL and SEQ which are smaller positions in the last 12 months.


Cheers Greg