To answer your question @Chella,Over the calendar year (Same...

To answer your question @Chella,

Over the calendar year (Same time-frame as per your question, 31 December 2020 to 30 November 2021.)
Vanguard World index + 28.46% (106.19 - 84.12 + 1.8746) / 84.12
Magellan global open class +15.65% (2.7888 - 2.4556 + 0.051) / 2.4556

Both are unhedged so there's no difference due to currency movements.


If you don't trust my calcs heres Magellan,
Data as of 30 November 2021.

Over the year the global fund has underperformed, most asset managers won't usually get too caught up in one year performance and put more weight on the 3yr performance. Hamish's bonus is also tied to the 3yr for this reason. The point others (such as @Jean Luc Bergman) are making is that this one years performance has been so terrible it has reversed the long term outperformance.