Managed funds

[Shareguy]

Discovery down in December.

https://discoveryfunds.us11.list-manage.com/track/click?u=5c1216a1533df806fdc1c886f&id=3be90c0c2b&e=67af1006e4

[Shareguy]

Discovery up 16.6 percent since inception.

https://www.discoveryfunds.co.nz/assets/Newsletters/Discovery-Newsletter-January-23.pdf

[Basil]

That's an excellent result.  You must be happy with that! 

[Shareguy]

That's an excellent result.  You must be happy with that! 

Yes. Early days though.

[Shareguy]

Discovery up 17 percent since inception.   Pie funds growth and growth 2 not performing

https://discoveryfunds.co.nz/assets/Newsletters/Discovery-March-23.pdf

https://www.piefunds.co.nz/Performance-and-Unit-Prices

Lets compare

  Fund                                      3month        6month

Discovery                                  +7.8 %            +17 %
Pie Growth                                +0.76 %          + 1.51 %
Pie Growth 2                             -1.37 %           +0.13 %

[winner (n)]

Discovery up 17 percent since inception.   Pie funds growth and growth 2 not performing

https://discoveryfunds.co.nz/assets/Newsletters/Discovery-March-23.pdf

https://www.piefunds.co.nz/Performance-and-Unit-Prices

Lets compare

  Fund                                      3month        6month

Discovery                                  +7.8 %            +17 %
Pie Growth                                +0.76 %          + 1.51 %
Pie Growth 2                             -1.37 %           +0.13 %

Beginners luck?

[Shareguy]

Beginners luck?

Certainly agree its to early to judge.

There is and will be a lot of pressure for Pie to compete, especially given the history of the Discovery founders.  If Pie does not start performing and Discovery continues its great start then I can see funds transferring to Discovery.

Since the respective lows of June and October last year, local shares have rebounded 12.6% and world shares are up 18.7%.
A softer currency has also been helpful to investors (and exporters) in recent months, with the NZ dollar having fallen 3.1% on a trade-weighted basis in 2023.

We are told the founder at Pie (Mike Taylor) is now focused on reversing the trend of the growth funds.  A new CEO was appointed.....time will tell I guess.
 

[Stoploss]

I think it might be better or worse depending upon how you look at it ,as of today Discovery  +25.45 % since inception.

[Shareguy]

I think it might be better or worse depending upon how you look at it ,as of today Discovery  +25.45 % since inception.

Gosh . You are right up 25 percent. WOW

[Stoploss]

I think they hold Duratec , so today should be another good day !

[Stoploss]

This was noted I think on the other site , but it's a hell of an overhead .
close to 50 on the payroll ....
https://www.piefunds.co.nz/Why-Pie-Funds/Meet-the-Team
The early days PIE was "boutique" Mike didn't want to take any of the funds over $ 35 Mio .( closed them at that)
Now its $2 Billion under management but with the associated costs , and maybe not as nimble as a smaller fund ?

[Shareguy]

This was noted I think on the other site , but it's a hell of an overhead .
close to 50 on the payroll ....
https://www.piefunds.co.nz/Why-Pie-Funds/Meet-the-Team
The early days PIE was "boutique" Mike didn't want to take any of the funds over $ 35 Mio .( closed them at that)
Now its $2 Billion under management but with the associated costs , and maybe not as nimble as a smaller fund ?

Yes I do agree overheads at Pie are huge compared to Discovery. Important to note Discovery charges higher fees compared to Pie. Also to get this return they have taken some risks that have paid off. Next stock pick might not be so good.

[Stoploss]

Yes I do agree overheads at Pie are huge compared to Discovery. Important to note Discovery charges higher fees compared to Pie. Also to get this return they have taken some risks that have paid off. Next stock pick might not be so good.

I don't mind paying a higher fee for better performance . As you say time will tell .
Looking at it the PIE performance is way below the market .

[Shareguy]

Pie Funds latest

https://www.piefunds.co.nz/Portals/3/Documents/Newsletters/2023/Monthly%20Newsletter_June_2023_Digital.pdf?utm_medium=email&utm_campaign=Slice%20of%20Pie%20June%202023&utm_content=Slice%20of%20Pie%20June%202023+CID_9b2f75e5da40dd96abc46d95444b5556&utm_source=Email%20marketing%20software&utm_term=Read%20Here

[Basil]

WOW, that thesis written by A.I.  My goodness that is disturbing.
How long before we have A.I. running an investment fund using algo's, options, shorts and all sorts of other techniques to beat the market?