Before you go slagging Magellan as a fund manager you need to remember what they promise. They are a defensive stock fund. For them to be outperforming at any point or even equalling the index is a big win. The Beta for the global fund the last time I looked was 0.66. People invest to make a return. This is the option to make a return with much lower risk that "the market" with beta of 1. For many long term investors the fact they hold tight during COVID and other recent downturns like end of 2018, they well outperformed the market in those times. They offer a defensive portfolio, if you want to outperform the market increase your risk. They don't need to apologise for doing what they say they will do, so research what the fund manager offers before bagging out. They have delivered returns in all types of markets with lower risk and have never promised anything else.
MFG Price at posting:
$40.52 Sentiment: Buy Disclosure: Held
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