Ann: MGF Fund Update - February 2021, page-277

Thanks for your post.

Clearly MGOC holders have fared much better than MGF.

I would not be changing ships just to capture the discount. This is not assured.
MGF has traded at a substantial discount for the past year. This has been accelerating despite buy back and other capital management measures. Buy back was recently extended for a further 12 months and discount has only been increasing.

Underperformance is the issue with this fund, particularly when you are charging a premium fee. Sophisticated investors and financial advisors don't make sentiment driven decisions.

Unfortunately recent events have damaged the Magellan brand and reputation. There have been some excellent posts on the MFG forum.
The lack of any transparency from Hamish on recent events is disappointing and I am beginning to understand the real reasons for Brett Cairns sudden resignation. The changes to quarterly reporting, and the announcements released on the loss of its biggest mandate raise many questions.

The chart posted on the options is very telling.