I also think analysis of FUM report for December 21 published last Friday and other available info on performance of MFG fund is turning to be positive. 1.The year 2021 was the worst year for MFG against indexes at what point under performed the world indexes by about 25%. The reasons we have discussed many times over and I am not going through again, but being conservative and carrying lot of cash didn’t help. 2. But in December 21 according to my calculation MFG outperformed MSCI and for quarter was under by only1%. Hopefully confirmation from MGOC will come through this week. In spite of the bad year MFG faced withdrawals of only $1B from institutional investors for the whole year excluding SJP. This 1B was basically due investors rebalancing their books, the explanation that was given. What ever it is, except for SJP they did not loose any mandates. My question is if they didn’t leave last year, why will leave now when MFG performance has picked up. 3. World economic parameters are changing very quickly and normal economical set up should favour MFG performance. Far excess liquidity is being removed fast mainly due to inflation. 4.Retail investors and financial advisers in my opinion must be reacting to the headline underperformance banter that was at it peek last year. Hopefully will change when few months of MFG performance out shines world indexes. Under these circumstances MFG is very under valued currently.
MFG Price at posting:
$21.08 Sentiment: Buy Disclosure: Not Held
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