I think Magellan is to funds management is what Google was to search engines in the early 2000s. The funds management sector in Aus is old and hasn't had any innovation in decades. Magellan has the best tech and people, and will rise. They will have more FUM than the largest super fund in the country soon and no signs of slowing. People will wake up.
In either case, my point originally was that I will be investing in the IPO of the high conviction trust. A 7.5% margin of safety and free brokerage provide me with much more upside than downside potential.
MFG Price at posting:
$59.83 Sentiment: Buy Disclosure: Not Held
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