Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
SFGIX was down over 1% today... according to M* most likely not a dividend, as it looks like that only happens in June and December. They do hold a bit over 4% in Digital China Holdings Ltd., which took a drop today.
Digital China was created from Legend Holdings which became Lenovo in 2001. In pursuit of its "Digitalized China" corporate strategy, Digital China is focused on providing electronic business platforms, solutions and services. A one-stop IT services concept, allows it to span across a range of different industries, from banking and telecommunications to government and public sectors. Leveraging on its partnership with over 100 top IT vendors worldwide, Digital China has become the largest integrated IT service provider in China.[1]
Oddly, I'm not seeing what caused the 12% drop.
Interesting that SFGIX took a position in Olam convertible bonds, I'm guessing after the drop caused by the Muddy Waters attack on Olam late last year.
I own Ivy Asset Strategy, which was down nearly 1%, in part due to issues with the Macau gambling stocks, which took a drop last night due to potential new regulations.
As for single names in Asia, I continue to own Hutchison Whampoa and Jardine Matheson, both large conglomerates that trade around book value and are long-term holdings.
Reply to @Charles: Yep. I believe it's been the top position in Wintergreen for a while (and remains a holding in Winters' former Mutual Discovery fund), likely as part of Wintergreen's theme of the emerging market consumer, which Winters has discussed.
It's something I've owned for 1.5-2 years and consider a very long-term holding, reinvesting dividends. I think the major Asian conglomerates (Genting, Jardine, Hutchison, First Pacific, Swire) are all interesting, but I find Hutchison Whampoa and especially Jardine are particularly compelling given the size and scope of both companies.
Jardine (whose majority owned subsidiary Dairy Farm I particularly like as a play on the retail consumer) , Swire and Hutchison (Hutchison does have exposure to Canada and Europe) (all of which are not without risk, but which trade around book value - conglomerate discount, I suppose) have been around since the mid-1800's.
Tai-Pan and Noble House are two books from James Clavell that are colorful takes on the beginings of Jardine Matheson, Swire, etc. in Hong Kong. The movies are not in the same league as the books.
I have both of them. I sold a portion of my MAPIX and directed the proceeds to buy SFGIX. Much earlier, I sold MACSX to buy MAINX and proprotionately increase my allocation to MAIPX to keep the stock/bond ratio as it is.
By the way, MAPIX is not the right fund to compare with SFGIX as it is 100% stock, whereas SFGIX is balanced fund (Growth and Income kind). It is more closely matches with MACSX, though investment geography is different by mandate.
Comments
Yes, Digital China Holdings Ltd. was off -13%, which may explain about half today's draw down.
Correction: Matthews Strategic Income dipped slightly also.
Oddly, I'm not seeing what caused the 12% drop.
Interesting that SFGIX took a position in Olam convertible bonds, I'm guessing after the drop caused by the Muddy Waters attack on Olam late last year.
I own Ivy Asset Strategy, which was down nearly 1%, in part due to issues with the Macau gambling stocks, which took a drop last night due to potential new regulations.
As for single names in Asia, I continue to own Hutchison Whampoa and Jardine Matheson, both large conglomerates that trade around book value and are long-term holdings.
It's something I've owned for 1.5-2 years and consider a very long-term holding, reinvesting dividends. I think the major Asian conglomerates (Genting, Jardine, Hutchison, First Pacific, Swire) are all interesting, but I find Hutchison Whampoa and especially Jardine are particularly compelling given the size and scope of both companies.
Jardine (whose majority owned subsidiary Dairy Farm I particularly like as a play on the retail consumer) , Swire and Hutchison (Hutchison does have exposure to Canada and Europe) (all of which are not without risk, but which trade around book value - conglomerate discount, I suppose) have been around since the mid-1800's.
Much earlier, I sold MACSX to buy MAINX and proprotionately increase my allocation to MAIPX to keep the stock/bond ratio as it is.
By the way, MAPIX is not the right fund to compare with SFGIX as it is 100% stock, whereas SFGIX is balanced fund (Growth and Income kind). It is more closely matches with MACSX, though investment geography is different by mandate.