Interesting article in the AFR today: even though Magellan competitor Platinum had strong performance in 2022, it experienced outflows. HotCopper blocks the link so pls Google it.
Seems to me that performance no longer cuts it when it comes to retaining client monies.
People want good performance...
.. for a cheap price.
Well, well Magellan. Looks like you'll be losing money AND slashing fees. What choice will there be? This is going to be a very heavy one-two punch.
Ann: Funds Under Management and Performance Fee Update - Dec 2022, page-105
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