just to expand on why I said Magellan will always out perform...

just to expand on why I said Magellan will always out perform the market indexes 95% of the time, look at these numbers.
End Feb 21 MFG Total FUM - A$ 100B
End Sept 21 MFG Toal FUM. - A$. 113B
End Sept 21 MFG adj FUM. - A$. 115B
adjustment is for fund out flow for the period Feb to September 21.
The only index close to MFG performance is S&P 500, which is still 2% less.
On top of these numbers MFG pays about 2% more dividend yield compared to S&P 500.
This is where financial community discussion is screwed towards discussion of bad news , which makes a story for the journalist. They are still hitting MFG with Covid period under performance against the market. One day it will stop.