toofast2live wrote:Waste of space. A multi asset trust is bought for one of two reasons:
1. Moderate Growth without the volatility of equities
2. Management skill in timing asset sales and purchases to deliver exceptional growth.
MATE, over 5 years has basically tracked the all share and seems just as or more volatile.
As a holder of MATE, I wouldn't disagree that its performance is disappointing. I hold it, along with PNL and Ruffer, to spread risk, reduce volatility and limit the downside in market corrections, but also to participate in any upside, albeit less strongly. However, the upside seems to be negligible (or like today, still negative) when the market is rising and it still seems to actively participate in the downside when the market is falling!
I did actually reduce my holding a few weeks back and re-allocated the proceeds into RICA and MYI.
I suppose it could be that some of its assets are out of favour and awaiting their day in the sun, and the ones that should be doing well aren't having enough impact, or are falling anyway because of the generally falling market. So currently I seem to be having to make do with the dividend, which isn't bad and is increasing from 1.025p to 1.10p, wef 30th June when it goes ex dividend. Current yield: 4.39%
I like its holdings which include significant percentages of high yield bonds and infrastructure as well as consumer defensives like Johnson & Johnson, Coca Cola and P&G, but ultimately to me the proof has to be in the SP performance.