Has anyone reviewed the DRP rules for both Magellan listed funds. It appears they invest the money in new shares EVEN if buying on market would be a better option and cheaper.
Does anyone know if Magellan suspend the DRP if the price of buying on market is more beneficial than issuing new shares (even when taking into account the discount applied).
Surely they don't gobble up people's money knowing they could get a better deal buying on market???
Why wouldn't they adopt similar rules to other LICs and choose the best option for investors.
It smells of greed for additional FUM.
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