Hey @lost
I think there is still growth potential in Magellan’s FUM - but it’s hard in a market like the current one. A market rout would probably benefit Magellan - not immediately because everyone will be routed - but when the dust settles Magellan’s capital protection strategies will be left standing tall. That’s where growth to $150b could then come from.
Even without a rout I think Magellan fund investors are a little rusted on so the $100b is pretty safe ‘clipping the ticket’ revenue.
That said, if that’s all there was (funds management) MFG would be looking a bit constrained (in terms of growth prospects) and rudderless right now ...... but then you have Barranjoey, GYG and Finclear and you’d have to assume other investments under consideration. This is where MFG starts to have a bit of a MacBank feel about it and why at $40 and below it looks very undervalued to me.
MFG in the BUY zone, page-351
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Last
$9.95 |
Change
-0.070(0.70%) |
Mkt cap ! $1.779B | |||
| Open | High | Low | Value | Volume |
| $10.04 | $10.13 | $9.92 | $3.725M | 372.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2494 | $9.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.00 | 45242 | 13 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| MFG (ASX) Chart |