Agree that Magellan's FUM growth will slow in coming years. This is in context that the past 5 and 10 years FUM growth rates are awesome. Which is reflected in an EPS growth rate of 18.7 % over the past 5 years.
In the short run of the next 12 months, if the AUD currency continues to push higher, perhaps MFG performance will dip. We have seen MFG's share price plateau for long periods before. However my expectation is guided by MFG's exceptional leadership profit growth will outperform market expectation for many years to come.
MFG Price at posting:
$56.00 Sentiment: Hold Disclosure: Held
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