Hi @lost I don't suppose you will stop posting, and that is all...

Hi @lost I don't suppose you will stop posting, and that is all good.

My table is not misleading as it is FY FUM and posted to make a point in growth of FUM. The loss of SJP is well documented and obviously the table will update when necessary. The beauty of statistics is that I get to chose the timeframe. Lies, damned lies, and statistics.

As for the loss of the SJP mandate I think a couple of points need to be made.

Firstly, Magellan is in good company as Blackrock and other fund managers have lost a mandate with SJP recently. I can't find a report in any Australian news media so it obviously doesn't suit the conversation that is currently undergoing. The size if not dissimilar to the Magellan mandate.

UK gatekeeper drops BlackRock and others from $18bn fund in ESG overhaul | Citywire (citywireusa.com)

A search seems to indicate that SJP has been changing mandates since July this year with a lot of managers.

Secondly, the loss of the SJP mandate won't affect the Magellan funds returns as it was separate. A sensible move by Magellan.

Whilst I feel for those that have lost money buying at $75, or $60, or anything above the current share price, I would ask did they know why the bought? Or were they just following the herd? Did they have a trading plan, or a plan B if everything turned to shiite?

Magellan is compelling at current prices. A 6% drop, maybe a little more if they leak more FUM in the next 6 months, in fees for the full year still leaves a high dividend yield. Time will tell going forward but I'm still in the money and still holding.