I always like to know who the major share holders are in stocks that I hold as it contributes to my assessment of whether it is time to accumulate or to exit. That is, if substantial holders are exiting, for example, it may be a signal that something is up and it is time to follow, or at least do some further research. Or conversely if new substantial holder notices are issued, it may be a signal to accumulate, but depending on who is buying or selling.
The inaugural Top 20 list shows that HSBC holds a bunch, JP Morgan has a few, and Pershing has a handfull.
Correct me if I am wrong, but my understanding is that HSBC is typically the custodian for one or more mutual funds. Similarly for JP Morgan. Hence, the fact that multiple mutual funds have researched Monash and decided to invest their clients money in MA1 is in my opinion a very positive sign.
Today being the first day tells us nothing about MA1, but the March performance report for the Monash sister fund, which is not listed, shows a 2.43% gain in March ... which is very good compared to other Absolute Return strategy funds in March. It will be very interesting to see where MA1 is sitting in 6 months or 12 months. I suspect that if the NTA increases throughout the year, then the MA1 share price could see a significant premium to the NTA.
MA1 Price at posting:
96.0¢ Sentiment: Buy Disclosure: Held
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