MFG magellan financial group limited

Ann: 2023 Interim Results Briefing, page-4

  1. 4,321 Posts.
    lightbulb Created with Sketch. 1217
    lol!

    UGLY as. AS stated previously, the skew favours H1 and these results are brutal enough....!

    this slide sums it up:
    https://hotcopper.com.au/data/attachments/5057/5057672-11d38ecf23510db758b7b34a49cf3d6d.jpg

    Headline states the 3 funds have outperformed when the table CLEARLY SHOWS THE MAJORITY HAVE UNDERPERFORMED SIGNIFICANTLY FOR THE LAST 5 YEARS!!! and hence the MASSIVE OUTFLOWS!!!

    LOOK AT THE 1 YEAR MASSIVE UNDERPERFORMANCE - HOW WILL THIS ATTRACT FUM/?>??? eek.pngconfused.pngrolleyes.png

    then it goes on to state:
    https://hotcopper.com.au/data/attachments/5057/5057675-43a417218c6e5ba791dcaaff1d0c2ecd.jpg
    and throw you a 5 year turnaround plan thats not worth the paper its printed on....!!

    REMINDER - YOU ARE STARTING THIS HALF WITH FUM AT $45.3BN, NOT THE $53.8BN AVG YOU ENJOYED IN H1. thats already a ~$8.5bn disconnect, further FUM losses will result in massive H2 net profit erosion on a reconfirmed FLAT cost base.....

    The results were always going to favour H1 over H2.....
 
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