All Quiet on the MFG front

This thread has quietened right down - an indicator in itself that the worst of the ugliness might be behind MFG.

There’s just not the same volume of breaking news (all bad for months and months there) for certain individuals to seize upon.

Here is the current top 10 holdings (as of 30 June 2022)



How can you look at this list right now and think there are really poor or questionable selections in there ? ...yet time will probably show there are .... this is part of the fascination of stock market investing.

Here is the equivalent list from this time last year.


Riddled with poor selections you’d have to say .....but only with the benefit of hindsight.

Unfortunately these selections precipitated a demise that most of us just couldn’t see coming.

Now that the market has shaken out all the crazy gains that the COVID years enabled we’re back to more regular markets based much more on fundamentals.....markets more suited to the Magellan philosophies.

Hamish must wake up some mornings these days and wonder if it was all just a really bad dream.

The imperative to just get funds out of Magellan surely can’t be as strong now as it was early in the year. The top 10 stocks above have actually performed pretty well over the past month.

This might not stem the July outflows but it should have investment houses thinking twice about pulling funds out of Magellan from now on.

Anyway the next FUM report (for the month to July 31) will be interesting. Probably still outflows because of the residual effect of what has transpired over the past 7 or 8 months but hopefully slowing right up.

The share price has rallied....in recognition of the improving performance I guess......but unfortunately it’s still along long way back for many of us before we can even think about being back above water on this one.