Hi Lost,
Magellan owns Frontier Group (US based distribution channel) and has mandates over the World; US Mutual funds and UCITS funds, it is not an Australian domestic player, it is Australian tax payer giving local investors a benefit of franking credit. Look at their FY21 results investor presentation.
Does not concern you owning a company like GQG where management ownership is around 75 per cent after listing and management resides outside of AUstralia? Look at CRN , it was listed at 4 dollars, fallen in May to low 50 cents, management with ownership above 50 per cent raised capital at 45 cents and arranged the debt scheme at 11 per cent.
MFG in the BUY zone, page-354
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Last
$10.79 |
Change
0.060(0.56%) |
Mkt cap ! $1.950B | |||
| Open | High | Low | Value | Volume |
| $10.74 | $10.86 | $10.53 | $10.06M | 939.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 87 | $10.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.80 | 1000 | 1 |
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| Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
| MFG (ASX) Chart |