Yes I agree and think a lot of fund managers realise they have had it too good and that management fees will come under pressure across the board. You only have to look at Warren Buffet's comments on the insidious negatives of compounded management fees on returns - hence his famous bet index v hedge funds.
So the likes of Magellan are engaging in a "land grab" to try and lock in funds through listed vehicles such as the recent Magellan Global Tust float MGG where they have given v generous incentives to try and lock in the funds. Judging by the stocks in the "new" MGG portfolio it seems they spent the last 3 months at the cricket - Apple Alphabet Starbucks (disappointing earnings) Wells Fargo (ouch) the same stocks they have in existing funds. Of course some of these have been good but would like to see some new ideas.
MFG Price at posting:
$25.21 Sentiment: Sell Disclosure: Held
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