From the about us page at SJP that you linked @lost"We don’t...

From the about us page at SJP that you linked @lost
"We don’t make the decision to change managers lightly. But if we truly believe that things are not going to change in the future, then that’s the point at which we take the decision to find somebody better to do the job." https://www.sjp.co.uk/products-and-services/investment-management-approach

Another nail in the coffin, many Magellan posters laughed when I sold at $30 saying the horse has already bolted and that I'm buying high and selling low. I bet they would sell at $30 if given the option now, I think if it is SJP who is changing managers, Magellan could conceivably fall 10-15% when the trading halt is lifted, It will be interesting to the commentary they provide around it.

Institutional investors often follow each other, I don't think St. James place (If speculation is true) would take the decision to remove Magellan without a very in depth analysis of fees, portfolio positioning and now governance issues, it tells me they think it's going to worsen from here. I believe Magellan took the reigns of their international fund from 2013, this is a very longstanding relationship. This isn't a company that swings from one manager to the next frequently. When one institution sells, others will follow suit, there may well be more water to flow under this bridge yet.


I don't want to blow my own trumpet but I did identify this risk in this post last week, the last point under 'bear case' and was one of the reasons I did liquidate my holding.
https://hotcopper.com.au/threads/ann-funds-under-management-november-2021.6467885/page-121?post_id=58224222

Another question is who will take the mandate from Magellan, likely someone with considerably lower fees and better historical performance. WCM, GQG and Fundsmith are top picks in international/global equity.