MFG in the BUY zone, page-427

We can't forget the new products to attract FUM. Airlie is smashing it in their first couple of years and only 187mill FUM. Once this gets onto platforms and noticed they will attract a lot more. The infrastructure fund will no doubt pick up but another FUM generator.
The Futurepay product just launched directed at retirees where Magellan have their own cash in the fund to pay 32 months of income, making it attractive to retirees not to sell down on assets. As long as they continue to develop new products and ways to generate FUM they just need time to mature and get onto platforms once they are all rated by Zenith, Morningstar etc. The core products have been developed to counter the fee issue. If the management fees really do cause the outflows the core products will pick that FUM up. Yes outflow occurred, yes the market has responded and responded excessively but the FUM numbers need to be reported till the real direction of the price is confirmed. It tanked, but in a holding pattern till evidence comes in. So stick strong and hold waiting for the evidence to pile up. But as investing and watching paint dry notably are a marriage made in heaven, long term they seem to be preparing for all these events with new products and diversifying their FUM inflows. Its a pretty interesting time for MFG, everyone are making great points. some direction further down or up may occur a few months into next year. Even if this goes sideways everyone knows the Div on offer. Not bad franked at 75%. From memory the fund had a ripper year back in 2015 I think but due to the massive tailwind of the dollar movement. So that's there to consider also.