Hi @SP007
It looks like they were earning 0.44% in management fees, you were very close.
The math on an annualised impact:
$684M in revenue
12% drop is $82M, annual revenue to be $602M
Assume 60% net profit margin, $361.2M
Shares on issue of 185M
$1.95 EPS
12% impact of $82M
$82M on $18.6B in FUM = 0.0044
The math assumes that 12% of Magellan staff will be walked out the door prior to Christmas and there will be no increase/decrease in fees or FUM.
Best of Luck
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