Dear Fintax Investor
Please find attached the latest Fintax Fund Fact Sheets, a commentary by the MGIM team and a research piece by the Fintax team below.
In December the Growth Fund delivered +3.8% and the Balanced Fund +3.5%. For the 2020 full calendar year the Growth Fund delivered +7.0% and the Balanced Fund +7.3%.
Investors will recall that the Fintax Funds follow a blended investment style strategy with holdings in Value, Quality and Growth. One sub-style factor in Growth is Initial Public Offerings (IPOs). In 2020 this factor was the best performing out of the list of investment styles we monitor and delivered +76% for the 2020 calendar year. The Fintax Funds have exposure to IPOs through the Merian Chrysalis Fund which delivered 57% for the full year. Investors will also note the underperformance of the Value style, depicted by the Blue line in the graph below. Growth is depicted by Green and Quality by Pink (IPOs in red).
For our more detailed research on IPOs please visit the article section on our website: https://fintaxgroup.com/ipo/