The way I understand in this statement is that it is the current % of St. James place, not that they have indicated to say they were going to reduced the holding. Jarden are speculating I think. There can be another reason why UBS and Jarden taking this line of attack on Magellan because of Barrenjoey. On the 15th September in AFR article on Magellan and Barrenjoey gives more details. Obviously UBS loss all the key investment bankers to Barrenjoey. However one of them were not recruited to Barrenjoey and left out. He has joined Jarden according to this article. This article in AFR is questioning whether these issues are driving to underrate MFG by UBS and Jarden. Very interesting. Until we see few more months of Magellan performance on Monthly FUM and half year results to show Barrenjoey performance, this will continue. There is much more than what see on face value I think. Waiting to hear comments from you guys.
MFG Price at posting:
$36.50 Sentiment: Buy Disclosure: Held
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