They have to submit all holdings quarterly for each fund to the SEC, but I don’t read them all.
I agree about performance, performance, performance as being a key attribute of fund managers. In looking at other fund managers the question will probably play out over the next year for Magellan. Is the performance of the fund and growth of FUM declining to a similar rate as Platinum? It was this time last year where Platinum FUM growth was going backward similar to Magellan did last quarter, small overall -0.5% decrease in quarterly FUM. Now investors in Platinum funds are exiting investments at a stronger rate, despite an average 26% performance rate across all funds. Platinum PE Ratio has suffered as a result.
I thought Magellan had started the slow growth cycle a year ago, but FUM kept flowing in until the September quarter. It historically had quite a high CAGR of FUM over three year period cycles, but FUM growth has tapered recently to be lower than fund managers like Pinnacle and Australian Ethical Funds, indicating slower growth over the last three years.
Interested in your thoughts on this.
Best of Luck Lost
MFG Price at posting:
$33.90 Sentiment: None Disclosure: Not Held
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