Frank Casarotti announcing his retirement isn't a good sign. Frank was the brains behind their marketing and distribution...and let's be honest here...MFG's biggest skill was in their sales and marketing team, not the investment team...otherwise how would a simple global Quality index have beaten their global equity strategy over very long periods of time? Time for the Barrenjoey team to salvage an outcome for MFG shareholders by cooking up a deal to merge Magellan with a much bigger partner who can hoover up the FUM. The synergistic savings of a merger may just allow them to lower their fees to a more realistic level by cutting significant resources within their business. It's their best hope as far as I can see.
MFG Price at posting:
$12.06 Sentiment: Sell Disclosure: Not Held
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