Latest update will be at the bottom. April 30th 2019 pre-tax (before tax) NTA of FGG was $1.38. Update: 24-Nov-2019: FGG's October 31st (2019) BT NTA (ex-div) was $1.4047, so around $1.405, being 2.5 cents higher than 6 months ago, so I've updated my valuation here to reflect that. I'll try to do an update every 6 months when Strawman.Com flags that my valuation is stale.. 25-May-2020: FGG's April 30 (2020) BT NTA is $1.4262, a couple of cents higher than six months ago. FGG's SP on April 30 was $1.125, being a 21.1% NTA discount. They are trading at around $1.14 today, so the discount is still around 20% or above - assuming their NTA hasn't gone lower during May. These looks like attractive levels to top up or enter FGG. If you use Commsec, they will give you a full rebate of the brokerage fees on any purchases you make of FGG or FGX shares, so you can buy them brokerage free also (through Commsec). I support the concept, but I currently don't hold any FGG shares. I'm looking at getting back in however. I currently hold FGX, MGG and MHH shares for my children. That's money they have saved up and asked me to invest for them. I wanted to give them some diverse exposure and those funds provide that. Originally it was just FGX for ASX exposure and MGG (the Magellan Global Trust) for global exposure, but we got offered the opportunity to participate in the IPO for MHH (the Magellan High Conviction Trust), which made sense, particularly because of the loyalty/bonus shares that Hamish included in the offer. It was a no-brainer actually. At this point I am recommending to my kids that they just keep increasing their exposure to their existing investments - but I'm looking at getting back into FGG for myself now. 21-Nov-2020: Update: FGG's NTA after tax but before tax on unrealised gains was $1.5467 as at October 31st, 2020, which is what I'm using. That is their ex-div NTA for the 2cps dividend that they paid on October 23rd. As you will see on their share price (SP) graph, they've nearly obliterated that NTA discount (in their SP), however they're also performing well - finally!! Their share price has been on a steady north-east trajectory since their Covid-19-induced March low point. They've also eclipsed their 2019 highs, and are making new highs. In fact they closed yesterday at $1.47, an all-time high SP for them. That's really a reflection of their underlying performance, which has been positive. While $1.47 is still below their October 31 NTA, it's not far below, and their NTA would almost certainly have improved in the past 3 weeks (since October 31). They look fully valued to me at this level, but I wouldn't be buying into FGG as a value play - I'd be buying in to get exposure to global shares via a fund of funds that includes some of the best boutique fund managers available, some of which are not accepting new clients (their funds are closed to new investors). I.e. you'd be investing in FGG for capital growth. Their dividends have been increasing, but I don't think they're ever going to be an income play (a yield play) either - they're a growth company, and they're finally growing. That said, I don't hold FGG shares. I hold FGX shares (their sister fund that invests only in Australian listed companies) as part of a small portfolio of three companies that I hold for my two children. The other two in that portfolio are both listed investment trusts (LITs) that are managed by Magellan Financial Group (MFG) - being MHH & MGG - which provide our global exposure (to companies that my kids are mostly well aware of, like Microsoft, Apple, Alibaba, Tencent, Alphabet (Google) and Facebook) - while FGX provides the Australian exposure. However, for long-term holds, there would also be nothing wrong with just investing in both FGX and FGG, particularly now that both of them have a graph that is heading in exactly the right direction, at a good clip. In case I haven't already mentioned it, because of the philanthropic nature of both FG funds (donating millions of dollars to children's charities and mental health charities and not-for-profits), the vast majority of their service providers, and all of their fund managers, provide their time and services for free. And that extends to CBA's online broking service, Commsec, which will automatically rebate the brokerage fees to your account if you purchase FGX or FGG shares using Commsec, effectively enabling their customers to purchase FGX or FGG (or both) brokerage-free. For the latest FG Funds news, see here: FGG: https://futuregeninvest.com.au/lic/future-generation-global-investment-company/ or FGX: https://futuregeninvest.com.au/lic/future-generation-investment-company-2/ You can scroll down and click on "Monthly Investment Update" to access their latest monthly report. Update: 24-May-2021: FGG's 30-Apr-2021 before-tax NTA was $1.7178 and their NTA after tax but before tax on unrealised gains was $1.7165, so I'll call it $1.71. Their latest report (for the month of April 2021) can be accessed here: https://futuregeninvest.com.au/wp-content/uploads/2021/04/4.-FG_April-2021-NTA.pdf