Ann: Investment team leadership update, page-8

The loss of Vihari Ross is a big one, she was a very good operator, even back in her Ausbil days.
For all the hoopla, there really isn't very much top flight talent left at Magellan...if they lose Gerald Stack it's game over for MFG.
Magellan are going to remain in outflow for the foreseeable future...their fees are just too high for what they are capable of delivering, and on global equity they would have to cut their retail fee in half to even begin becoming competitive...they're unlikely to do this.
I wouldn't be surprised to see further big mandate losses from the likes of CFS and others.
MFG is unlikely to recover or grow its FUM...it will continue to have good cashflow if they can improve performance and control costs appropriately...but they've well and truly lost their halo, and they're now like a slowly dying business in run-off...the high margin retail FUM will bleed out (hopefully slowly for MFG shareholders)...if they do a good job from here then there may be some reasonable value left for shareholders, but more likely not. Their best bet to improve the share price from here is to merge the global equity business with someone else.