Hi @Moonshine66My actual posts questioning Magellan's underlying...

Hi @Moonshine66

My actual posts questioning Magellan's underlying performance started back here in September 2020, https://hotcopper.com.au/posts/47135187/single when the share price was $57.54. It is all in the history of hotcopper threads if you use the Advanced Search feature.
I just thought Magellan was over-rated by the market back then and still believe there are some underlying risks/issues investors need to be aware of and that management need to address before the business can turn around. While the share price won't halve from here, there are high risks to the downside due to these performance issues.

Back in September 2020 the quarterly average growth slowed down rapidly and it was clear there was trouble in the underlying performance of the business, I'll let you post the price chart since.

I will note, that some investors sold shares after my posts in late 2020 and hopefully I had helped a little in saving them a lot of money. I don't really care for institutions and believe it is the small retail investors that post on hotcopper that bear the brunt of poor company performance and a lack of information. There is a lot of information and perspectives that are not shared with retail investors and I am keen to debate so there is better information. Look at @Plague posts, there is a lot of good information that needs to be read and understood to invest in Magellan. @Chella posted the values of all holdings in Magellan's Global Concentrated Portfolio - this was a good table and this is what Institutional investors do every day, week and month to determine if they should buy or sell Magellan shares. Why wouldn't you want to know this sort of information before investing?

I know people don't like to be questioned on their beliefs and it is not popular, but how can you invest and not validate against what is out there. You have to question my information too and I expect that to be the case.

In terms of other posters, as quoted by @Chella today, Magellan has an indirect portion invested in Emerging Markets, as per post here https://hotcopper.com.au/posts/57808997/single and @SP007's post pointing out that it is 21% of FUM here https://hotcopper.com.au/posts/57807113/single. If market doesn't like Emerging Markets then they wouldn't be investing in Magellan.

Just to be clear, I believe a good quality Emerging Market Fund needs to be part of an investors portfolio, see Magellan post here: https://hotcopper.com.au/posts/57720883/single. As mentioned by @Chella, Emerging Market investors need to be very nimble and Magellan doesn't belong to that strategy (https://hotcopper.com.au/posts/57808997/single). This is another risk that I have never considered to be associated with Magellan.

GQG is one of many comparisons Magellan investors can benchmark against to determine if over the long term the fund management business will grow or lose FUM through inflow/outflow. The risks to the downside of underperformance is having to lower management fees. Believe if Magellan's FUM can hold the way it has then fees can be sustained, however if outflow continues or its holdings decrease, then there will be some problems.

Look forward to your response.

Best of Luck
Lost