Ann: MGF Fund Update - February 2021, page-378

The only reason MGF is not $1.30 is because the different funds of Magellan are buying units back.
I subscribe to foxtell and watch BBC, CNN, CNBC, BLOOMBERG at night and watching the S & P 500 pre open.
Then wake up for the close early next morning.
Its not great news and even Amazon made a loss last Quarter and got hammered.
Federal reserve threat to raise interest rates twice by 0.5% has spooked consumers.
NASDAQ is weak, Apple find support @ $150, Microsoft @ $275 could fall lower, google @$ 2,229 has fallen straight through support. Unprofitable Teck has fallen by -60%.
Be prepared for more weakness.

Meanwhile the ASX 200 IS ONE OF THE STRONGEST iNDICIES in the world and has a tripple top on the strength of Commodities ,banks.

I am going to a presentation by Emma Kirk at the ASA Sydney Investment hour in May.
I follow many of the conversations on Hot Copper and will ask her.
Why doesn't Magellan lower their 1.35% management fee to 0.9% to stop the exit of money from funds.
They also charge a performance fee (which has been very poor last 6 months)
Rather than use their cash to buy their own units, why not buy more US stock?