Marlin

[Snoopy]

I can't agree with the notion that Marlin has to stay fully invested regardless of market conditions.

On your fully invested remark. I did notice that Milford did have a 4.03% cash holding in their international growth fund at their 31-03-2022 balance date. I am in favour of keeping cash on hand myself for the opportunity to move on unexpected market events it provides. I haven't seen a fund declare a cash position this high before (not that I have looked at oodles of them). And good on Milford if they can find that opportunity that allows that cash to work in their favour.

This 'discovery' by me obviously means that a fund is 'allowed' to maintain a cash balance of significance. But personally, as a rule, I prefer a fund to remain fully invested. That's because if I thought cashing up was a good idea I could do it easily myself by selling down my position in the fund concerned.

SNOOPY