St James Place, MFG's single largest institutional client, has withdrawn £3.5billion (AUD6.4b) from one of UK's best known global fund managers, Woodford Investments.
With $6.4b of funds looking for a new home, I bet MFG's Business Development Team in UK (which have a very good relationship with St James Place already) is working overtime to grab a large chunk, if not all of that pie!
With MFG's great recent global fund performance and transparent governance and reporting, St James Place will be crazy not to significantly top up their funds with MFG.
I look forward to the new FUM disclosures from MFG in the coming few months.
(The attached article is from today's UK Financial Times, Asia edition)
MFG Price at posting:
$43.81 Sentiment: Buy Disclosure: Held
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