MarketsFlow portfolio performance web-chat for week ending 6 December, 2019

Hi,

I’m aware that the performance figures are taken before market close, but for this specific week they were:
0.36% for HG Portfolio
0.30% for ISA Portfolio

I ended up with:
-0.01% for HG Portfolio
-0.14% for ISA Portfolio

Did others see a similar movement? I didn’t see the market drop much in the closing hours, but don’t have sight of the specific holdings that Marketflow were invested in ? Be great to shed some light on this.

Also, would it be better to do these performance recordings on Monday morning instead so it’s done with actual figures?

Thanks,

Rahim.

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I agree that it should be recorded after the actual figures are known. Whether that’s Monday or another time in the week that’s preferable for the Portfolio Manager (Adam) and which will have minimal impact upon performance is obviously to be decided by the management.

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Agreed. This is something I have raised a few times. Apart from once or twice, the performance figure always drops rather than increases, so maybe it indicates a need to not trade in these hours as this happens consistently.

But aside from that, yes, having a more accurate figure at the end of the week would be preferable!

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I fully agree with the comments made.

Also, with the Portfolios being stated as 0.3-0.6% up for the week ending the 6th December 2019. From my start value on the 2nd December through to my closing value on the 6th December, I am actually marginally down for the week on both a High Growth Portfolio & an ISA Portfolio.

Oops! Should read “Portfolios being stated as 0.3-0.36% up for the week.”

I have to say it’s a poor show that no one from MarketsFlow have responded to the concerns of the investors. I know everyone is busy but if you want to build a thriving community there needs two way interaction… just my thoughts

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Unfortunately this is as far as it got last time I raised the very same issues

@tom_mf, @Jamie-MF - would you be able to address this please?

Hi Guys - Thanks for raising these concerns.

Unfortunately due to the closing times on NYSE we can only do these webcasts and mailshots around midday Friday Eastern time, and 5pm in London (where Tom and myself are based).

Given the time constraints it’s more a snapshot for the portfolio than a final total for the week - so sometimes there’s going to be fluctuations. But I completely appreciate that this isn’t clear in the email.

We’re actively looking and testing ways to improve this system, including automation of the email with the final EOW figures after markets close - this will take some time to do, so please bare with us on this.

However, any other recommendations would be greatly appreciated.

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Thanks for getting back to us @Jamie-MF.

I think one option could be to record it first thing on Monday morning so you have final results. That way you will also have seen and be able to explain any large impact news over the weekend on the Asian markets that open before European ones. And you can still do a preview of the upcoming week.

I agree with James’ comment above. Much prefer having communication about the week when performance figures are actually confirmed, rather than have the impact of Friday market movements after the webcast which then raise questions on performance differences.

@Jamie-MF There was also a mention of an app update coming (this was around 1.5 months ago) which would give a view of allocation. Therefore at any point we could get a view of the percentage of our portfolio non-invested / invested (and potentially what in). Do you know the latest on this release?

We’re currently looking into what’s the best course of action regarding the podcast and recording times, we’re going to do one tomorrow due to the Christmas holidays - but plan on rejigging a lot of the content we produce in the new year — including looking into a better time for recording.

@rahimnota I’ve just spoken to the CTO, and we’ve still got a couple of things to work on before this feature is available. I apologies for the vagueness on timelines, but at the moment we’re prioritising stability and scalability over new features.

So lots of work is going on behind the scenes to make it easier and quicker to implement new features. This helps us future-proof the app and doing it now will be a lot more beneficial and easier than delaying it. But will be launching this feature soon!

Some great comments and I completely agree with the essence of these views.

I feel that all of the information on performance dispensed by MF should be readily understandable, unambiguous, clearly relate to a specific period, and interlock with all other pieces of the performance jigsaw that are released by MF. The craving for instant information & the demands of 24-hour world markets are dynamics that have to be lived with.

Ideally for me, I would like to see the daily Portfolio performance figures only when they are robust, exactified and they are highly unlikely to change. If this can be delivered by say 10.00 am or 1.00 pm the next day that is fine with me, just tell me.

I definitely like the rounding-off of the week with the portfolio performance web-chat & effectively robust data for around “4 1/2 days” of the week & a glimpse of the trends and likely outcome from the remaining “1/2 day,” but if this is continued, it must be made clear that the week the web-chat refers to has not yet finished. If the end of week portfolio performance web-chat is kept in place & goes out on a Friday, I think it needs to be radically overhauled - more on the lines of the excitement of this is what is happening now, rather than this is what has happened - well almost happened!

I’m not sure that a British investor casually looking at this for the first time will be fully aware that the portfolio investments are being made in the US markets, and may be a little confused by the “lag-effect” when the British markets have often actually closed. As MF launches in other World markets there is potential for the various performance information released to be confusing and even contradictory, especially if some of the data is not robust in relation to a specific period. What if MF at some point launches a multi-market portfolio product?

My preference for the timing of the portfolio performance web-chat, is, as with others, when all the data is in and the figures are robust and finalised. This eliminates any confusion for a simple soul like me. Ideally, I wouldn’t want to wait for Monday to see the final out-turn, but would be happy with the final Portfolio performance figures & web-chat posted by say late-afternoon Saturday.

Waiting until the figures are robust and finalised then feeds perfectly into the end of month management fee generation, giving more confidence in these figures, reducing any unnecessary confusion/queries, and making checking of the figures easier.

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