15.8% p.a is after fees.MSCI world ex-Australia index past 10...

15.8% p.a is after fees.
MSCI world ex-Australia index past 10 years has been 13 % p.a
given that most fund managers underperform the index long term, it seems highly unlikely ( frankly wrong )
to say that " 15% for the last 10 years will still make it one of the worst performing managed fund ".
different fund managers will underperform or outperform during different stages of the stockmarket.
other global funds that I also hold have lately outperformed Magellan, but in the past Magellan outperformed those.