Is Navra gradually getting more into the market? I notice that the unit price is creeping up a bit more. Are they still holding mostly cash?
Last update by Steve a couple of days ago confirmed the NavTrade system is now trading up to 45% of FUM with an actual allocation of 27% invested into the market. The aim is to get the NavTrade system operating with 100% of FUM by end of financial year.
Important to understand that increasing allocation is not just a matter of throwing money at the market ... they adjust the parameters of the system to allow for increased trading capital and then the system determines when to buy - and it will generally only buy on share price dips, not when share prices are strongly rising - hence it may take a while for the fund to use more of its allocation in current market conditions. I think Steve is looking forward to a "Sell in May" type correction.
thanks for that, i've just been reading Navra Financial Services and Navra Financial Services I think the fund is looking good!