I don't think so. The reputation is so badly damaged I doubt there is a way back. This stock will probably just become a value play moving forward once the FUM stabilises. Some will always stay faithful, but a lot of the talent is likely to leave in the medium term.
Magellan's magic came from it's distribution, being one of only a handful of global managers to be offered to a growing Australian Retail and Super market. With Frank leaving, Hamish being hidden away and no market beating performance, it takes quite an amibitous set of assumptions to see them at their former glory. Market is now competitive and most super funds are taking investment in house, increasing private investments and using low cost index strategies. The life cycle fund managers is much shorter these days, and performance and cost have become front of mind. Two area's Magellan currently rank in the bottom quartile in.
While their performance may turn around soon, I doubt the flows will come rushing back in for some time.
MFG Price at posting:
$12.06 Sentiment: Hold Disclosure: Not Held
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