Just note here -> I don't dislike the fund. I'm a holder of the manager and the fund.
I think the fund has perfomed fantastically until Covid then Magellan stuffed that up.
All the great stats are pre-covid, when the fund was riding on the backs of Microsoft, Apple, Google and Facebook. Hardly considered defensive as Cutty pointed out.
What I don't like is spin whitewashing fact.
Downside protection is just words. Magellalion rode Alibaba from $300US to $160US. I don't see evidence of downside protection there at all.
Is there a joke there somewhere? What's a growth fund that underperforms? A defensive fund.
Ann: Funds Under Management - October 2021, page-52
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