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clock Created with Sketch. 05/04/23
11:15
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Originally posted by CaptainBarnacles:
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Well if we review the half year outlook - MFG seems to be crumbling with such a thumping this month. Really there is nothing happening to validate the Magellan specific statements, and plenty to possibly invalidate them. (The overall market related statements were quite obvious.)Outlook Magellan has the capabilities and is well positioned to deliver in this environment Airlie and Infrastructure well positioned for growth with strong performance track records Challenging market conditions provide investment opportunities for active fund managers Conclusion Substantial progress on near term organic product development “Meaningful transformation takes time. Whilst it is still early days, I can report that we are making good progress in delivering on our FY23 strategic priorities and are encouraged by the improving trends that are emerging. In the last six months we have launched new strategies, refined our plan around staff retention and enhanced our investment process to improve how we collaborate and generate ideas. These are key first steps in delivering on our five-year target of $100 billion in funds under management by 2027.
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lol! my fav bit:" I can report that we are making good progress in delivering on our FY23 strategic priorities and are encouraged by the improving trends that are emerging. "
losing $4bn a month in client flows! retail (highest margin) still bleEding $0.5bn a month!! IF THATS GOOD PROGRESS, AND IMPROVING TRENDS, HATE TO KNOW WHATS DEFINED AS BAD!
(20min delay)