I wouldn't be surprised if there was a class action considering how misleading magellan has been.
"I have had no institutional investors question performance" the next week, the largest institution withdraws 18.6 billion.
Brett Cairns leaves for 'personal reasons'. Wouldn't want to be too transparent about the CEO exiting the business... without notice and no transition period. This was the day before they cut fees of the global fund by 50 basis points, even through they deny this is a fee cut, they're calling it a new fee structure for a select group of wealth managers...
The biggest thing to me was leaking to the media before disclosing price sensitive announcements. Why does the AFR find out before the ASX?
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