uk perspective

As a UK resident I can appreciate that from my perspective the performance of MML has been enhanced by the natural currency hedge provided by the shifting A$/GB£ since 2008.

I recently checked on a post I made here in Nov08 when the UK price was 26p and the A$ price was 59c - an approximate exchange difference of 0.44. Currently the Forex rate is 0.678 which over the intervening period has enhanced the gain from MML considerably for UK based investors (a point that has been clearly picked up by N.American & UK institutions who own significant quantities of the company).

So please excuse me if I occasionally wax lyrical regarding MML!

It has been a happy confluence of SP growth + positive exchange rate trend but without Australian tax and labour costs.

MML production growth certainly looks very evident from company planning and actions. Tax benefits have been extended in the Philippines because of the renewed inward investment and labour & fuel, costs remain low. But perhaps the future currency exchange will be less beneficial, on that it is far from clear, even if the A$ looks far more appealing than the US$ to my eyes.

I also appreciate that in US$ or GB$ gold terms, the rising trend in gold has looked far more appealing than it may have done in A$ terms.

So, once again, I offer the above as a view from a non-Australian perspective and continue my hunt for other ASX-listed stocks with similar positive characteristics to MML.

Kind regards to all
CPDLC