If their performance can bounce back then their long term...

If their performance can bounce back then their long term numbers look ok which might still attract some new money. Right now, for potential new investors that like Magellan many of them might simply buy MGF units on market rather than invest in the open ended fund.

Can getting rid of the closed end fund help boost their AUMs in the long run, i.e. investors who want to be in a Magellan product must go the open ended route which boosts AUMs.

Performance from the manager is crucial as always, they seem to have done ok in 2023 so far anyway.