Pie funds

[stoploss]

Well August should be a ripper for them if they are short the market LOL

Newsletter is out so performance for Month of Aug 2015, Growth -2.8%, New Growth +2 % ( fund size 10.4 mil ) Global Fund -2.4 %, Emerging Fund - 0.9 % , Dividend Fund - 4 %

[Joshuatree]

Maintaining High hedging cover with put options and selling futures and holding cash.

Also Buying wit their ears pinned back (12 stocks mentioned)taking advantage of the worst month on the ASX since oct 2008. Still have plenty of dry powder remaining. Thats confidence for you. We will see if their timing has been ok.

[Felonius]

Oh dear, sounds like XRO is a foundation stock of their new growth fund

My reading of this article is quite different to yours. Sure Mike Taylor is impressed with Xero and Rod Drury's entrepreneurial ability, and rightly so. However he stated quite clearly that the business is difficult to value even for him. In my view there is absolutely NO indication that Mike is buying the stock for any of his funds. Sorry Joshuatree but I think you should read the article again very carefully.

[Joshuatree]

Don't be sorry. 98% of it is positive and promoting of XRO and Mike sensibly covers himself by telling "you" to do your own research. Its a great spruik, with lots of admiration with numerous lines i could quote but just one from me , below.I agree there is no proof PIE is buying/has bought Xero.But more likely than not going on the "glow" and 5 mins with Rod Drury a few pages further on. PIE have avery good track record and i have holdings in 3 of their funds.

Mike Taylor " In summary I think Xero has all the ingredients necessary to become New Zealands largest company and be recognised as a top 100 Global company"

[bull....]

I imagine its only a matter of time when technology catches up ( bit like the Netflix of funds model accessable to everyone eventually) and nz's hedge fund like fee structure becomes a dinosuar

[Harvey Specter]

I imagine its only a matter of time when technology catches up ( bit like the Netflix of funds model accessable to everyone eventually) and nz's hedge fund like fee structure becomes a dinosuar

Yes - something like https://www.wealthfront.com/ would be great. NZX has brought out some great low cost index funds but unfortunately added their only layer of fees.

[Joshuatree]

I agree that owning fund managers shares rather than their funds is prob a better strategy , thinking Aus ones.. Owning some PIE funds fits within my personal portfolio structure atp ; but may well change at any point e.g. if health issues aren't resolved, portfolio takes a hit; i score a massive win etc. Diff for everyone on their situ and skill sets.

[Joshuatree]

Skimming through latest newsletter. VTG is there first 10 bagger stock. Completely exited IQE last month.

Performance annualised since inception
PIE GROWTH 20.7%P/A
PIE DIV 20.5%P/A
PIE EMERGING 41.9%
PIE GLOBAL8.6% P/A
PIE CASH 3%
PIE GROWTH 2 14.1%

[Fisherking]

I agree that owning fund managers shares rather than their funds is prob a better strategy , thinking Aus ones.. Owning some PIE funds fits within my personal portfolio structure atp ; but may well change at any point e.g. if health issues aren't resolved, portfolio takes a hit; i score a massive win etc. Diff for everyone on their situ and skill sets.

Totally agree JT, I also have $ in 2 of the PIE funds and am very impressed with the returns they've been delivering. It's a pity to lose KW but he did seem to have some grudge with this fund.

[bull....]

interesting article by brent sheather

http://www.nzherald.co.nz/business/n...ectid=11599449

so true, all the new fmc act has done and the new financial advisor laws is try to give the same old rorts a look of respectability as far as fees go, also have pushed the small financial advisors out of business and sent the business to the sales people at the big end of town