Hi @SaltyInvestor
Magellan board has to do something. They already have one of the lowest salary cost bases of larger ASX listed Fund Managers (circa $70M, compared to Pendal with $210M). Not much staff to cut, but then that could explain poor performance.
Board should be cutting retail fees to 80 basis points to retain retail investors (a bit more than GQG Global Equity 75 basis points from June 2020). It will cut Magellan revenues by 33% on an ongoing basis, but at least they have the chance to retain the FUM they have now. 100% of fees on half the level of FUM is less than 33% on current level of FUM.
Best of Luck
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Hi @SaltyInvestorMagellan board has to do something. They...
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Last
$9.85 |
Change
0.090(0.92%) |
Mkt cap ! $1.780B | |||
| Open | High | Low | Value | Volume |
| $9.87 | $9.93 | $9.77 | $2.846M | 288.9K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 837 | $9.84 |
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| Price($) | Vol. | No. |
|---|---|---|
| $9.88 | 1000 | 1 |
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