Dear Fintax Investor

Please find attached the latest fund fact sheets and commentary by MGIM. Last month, the Balanced Fund delivered 1.2% and the Growth Fund 0.6%.

Investors will note from the Growth Fund fact sheet that its transition to a higher equity mandate has been completed. MGIM have, therefore, started to exclude the Global Fixed Income index performance from the Growth Fund fact sheet. Going forward, MGIM believe the Growth Fund will deliver returns closer to global equity markets but with less downside volatility due to a portion of the fund being invested in protective assets (gold, S&P500 put options). They have also replaced the cumulative performance graph typically included on page 1 of the fact sheets with the top 3 contributors to and bottom 3 detractors from performance in each fund over the prior rolling 12 months.

On page 1 of the fact sheets, the excellent performance delivered by the Conventum Lyrical Fund over the prior 12 months is clear. Lyrical is a fundamental, value-based investment manager that focusses on the value, quality and analyzability of  listed businesses. Lyrical was founded in 2008 and currently has $9.7 billion assets under management. Please click on the image below to be redirected to Lyrical’s introductory video.

Letters & News | Lyrical Asset Management

We have also included a link below to the Conventum Lyrical Fund’s latest monthly fact sheet.

LAM-UCITS-Fund-Summary-May2021.pdf (lyricalam.com)

Please don’t hesitate to contact us should you have any comments or queries.