Ann: Funds Under Management - December 2021, page-93

I put the link but it was copyright. If you can read AFR, just search Magellan. It should pop up all articles mentioning this company. The article basically say the recent decline of MFG is not the only one but most managed fund companies do too. Most funds are underperformed to market index. MFG share price further affected by the recent CEO leaving and seperation of Hamish with his wife. It says the outflow of FUM are experienced at most managed fund. The current MFG share price is equivalent to assumption that this out flow to continue to the next 5 years and that earning level is significantly reduced.

I think the market is rerating this company in light of still OK half year earning and dividend to be reported next month. I thin there are ample supply of money and cheap money that people put the easy money in high risk stocks.