Ann: Funds Under Management - October 2021, page-136

the next few years are going to be turbulent/volatile with so many different possible scenarios playing out and if you are investing a few thousand or even 6 digits sure , you might want to do it yourself but institutional funds investing millions need the downside protection safety / insurance of a fund like Magellan's. I think if anything the FUM will increase significantly over the next couple of years due to such factors coming into play , and the increasing super by 0.5% every year until 2025 as well means more money will be invested into fund managers and Magellan will be a major benefactor there too. Watching interviews with Hamish , he is all about the structural growth plays and could care less about cyclicals and is thinking 3-5 years ahead not about what happens in the next 12 months. No matter where markets go you need Microsoft , Netflix , SAP , Google , Amazon and Facebook and there is still huge growth left in these plays as they keep mopping up / taking over the competition so just by him sitting on these behemoths the fum should rise healthily each year and most instos will allocate a percentage of their portfolio to such a fund regardless of how much it outperforms / underperforms the market as long as it keeps delivering over the agreed 9% per year and maintains that average , imho dyor