Hi
@Moonshine66It doesn’t take that long to do the above analysis, less than an hour.
In terms of GQG they have other portfolios. Here is another one:
The portfolio outlined in above post represents 9% of GQG FUM. MFG has only the above portfolio for a majority of its FUM. The portfolio in this post is another 10% of FUM. The above post portfolio is the worst performer of all GQG portfolios.
October 2023 would be the first review point and then October 2024. Fund managers take a long time to change one way or the other and MFG has taken a whole year for the share price to present what is happening to FUM, so the above points will definitely indicate whether the performance decline of the last year continues.
Magellan has to change its business to improve performance by October 2024. Barren Joey, the Mexican takeaway shop are likely to contribute 10% at best to earnings and need to be sold off quickly (Capital Gain will improve EPS for a bit, but over the long term it will continue to fall). Magellan needs to buy a US growth fund manager to right the ship and go back to the reason they were a good business in the first place - so it isn’t impossible to improve share price in the future. May take some time though.
Best of Luck
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