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MFG, MAGELLAN FINANCIAL GROUP
nipper
post Posted: Feb 12 2019, 09:00 PM
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Posts: 5,400
Thanks: 1962


QUOTE
Sources said Magellan had ex-BlackRock operative Paddy McCrudden and Brett Cairns working on a post-retirement product, that could blow the market wide open.

They're said to be in talks with regulators - "twin peaks" the Australian Securities and Investments Commission and Australian Prudential Regulation Authority - with an income and retirement product that would be pitched at the country's ageing population.

As it stands, annuities are available via other avenues, but they're costly and Magellan reckons it might be able to come up with a more affordable option which would be annuity-like in nature but with a couple of twists. Magellan has had its new strategy in development for a couple of years, and is said to be six months away from the seeding stage.

It'll be interesting to see whether Magellan can make it work. The firm has had success with innovations in the not too distant past - including opening up the active ETF market - but annuities and annuity-like products are a notoriously tough nut to crack. They may make a lot of sense for Australians reaching retirement age, but they're proving very slow to catch on.
Street Talk
https://www.afr.com/street-talk/is-a-twist-...20190211-h1b3gq



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Oct 4 2018, 11:06 AM
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QUOTE
Magellan Financial Group co-founder Hamish Douglass is stepping down as chief executive and will become chairman, switching roles with current chairman Brett Cairns.

​Mr Douglass will remain as chief investment officer and lead portfolio manager of the fund's global equities strategies while Dr Cairns will assume all operational duties, the company said a statement to the Australian Securities Exchange ahead of the its annual general meeting.

"These changes reflect a considered evolution of Magellan with day-to-day operating management of the company being overseen by Dr Cairns, and Mr Douglass' increasing focus on his key role as chief investment officer and the lead portfolio manager of Magellan's global equities strategies," the statement says.

Magellan also updated the market on its assets under management, which declined slightly in September from $74.6 billion to $74.5 billion. The fund secured $60 million of retail net inflows during the month and $26 million of institutional flows.

Dr Cairns joined Magellan in January 2007 as a non-executive director and became chairman five years ago.

The company has been a stellar performer on the ASX over that period as its market capitalisation has swelled from $200 million to $4.8 billion




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Aug 10 2018, 10:45 AM
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In Reply To: blacksheep's post @ Aug 9 2018, 11:58 AM

QUOTE
SP up 14% currently @ $27.50/share - shorters in trouble? As at 2nd August, 2018 short positions = 3.05%

AFR
QUOTE
Epic Magellan rally destroys shorts
The jump in short interest targeting Magellan Financial Group proved misguided after the fund manager beat consensus earnings expectations and raised its dividend


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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 9 2018, 11:58 AM
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In Reply To: blacksheep's post @ Jul 9 2018, 03:06 PM

SP up 14% currently @ $27.50/share - shorters in trouble? As at 2nd August, 2018 short positions = 3.05%

QUOTE
Magellan Financial Group Limited
Full year results for the period ended 30 June 2018
• Profit after tax before MGG offer costs and non-cash amortisation up 37% to
$268.9 million
• Total dividends up 57% to 134.5 cents per share
• New dividend policy increases ongoing payout ratio by 20% to 90-95%
• $35 billion of value creation for our clients and shareholders since 2006


https://www.shortman.com.au/stock?q=mfg
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 9 2018, 03:06 PM
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In Reply To: blacksheep's post @ Jul 4 2018, 09:52 PM

Today's ann has sent the SP up 2.86% - $23.77 currently. Not what the shorters wanted
QUOTE
Total FUM (A$ million)
31 May 2018 - 67,354
30 Jun 2018 - 69,509

In June, Magellan experienced net inflows of $218 million, which included net retail inflows of
$4 million and net institutional inflows of $214 million.

Magellan funds will pay distributions (net of reinvestment) of approximately $755 million in
July, which will be reflected in the FUM figures in next month’s announcement.

Magellan is entitled to estimated performance fees of approximately $40 million2 for the year
ended 30 June 2018. Performance fees (if any) may fluctuate significantly from period to
period.

https://www.shortman.com.au/stock?q=mfg
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 4 2018, 09:52 PM
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Posts: 5,699
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In Reply To: blacksheep's post @ Dec 5 2017, 08:39 PM

Those pesky brokers have done it again - this time with a downgrade. SP fell 6.41% @ $22.21
https://www.shortman.com.au/stock?q=mfg
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: kahuna1  
 


blacksheep
post Posted: Dec 5 2017, 08:39 PM
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UBS seem to have sparked interest in MFG today with their upgrade - can't see any other reason/news. SP up 6% @ $26.72/share.

UBS rates MFG as Upgrade to Buy from Neutral

UBS notes that while rising equity markets and strong net flows suggest the business is on track for 15% growth in assets under management in the first half, the shares have declined -13%.

Large one-off costs from the Global Trust raising will affect the first half result but the broker suggests growth in assets under management provides support heading into 2018.

Hence, UBS upgrades to Buy from Neutral and raises the target to $30.00 from $27.30.

https://www.shortman.com.au/stock?q=mfg
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Oct 13 2017, 03:03 AM
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Posts: 5,400
Thanks: 1962


QUOTE
Magellan will float its $1.6 billion Magellan Global Trust next week.

Magellan has already signalled it will close its biggest strategy [Magellan Global Fund] to new institutional investment this year. Although the fund manager is indeed high conviction limited to 40 stocks, as the fund has grown in size exceeding $9 billion, its returns have become more correlated with the MSCI World ex Australia Quality Index (distinct from the fund's benchmark, which is the MSCI World Net Total Return Index in Australian dollar terms).

.. around 20 per cent of the $1.6 billion raised for the new trust is estimated to be "switching" from alternative Magellan-managed products. Around $920 million of the total was sourced from participants in the priority offer who are eligible for roughly $60 million of free bonus units paid for by Magellan.
Its a big float; perhaps now too big to differentiate performance from the rest of the market?

Magellan paid $11 million for naming rights for upcoming domestic test cricket. As an exercise in brand awareness - aiming for the "self-directed retail investor"



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 9 2017, 09:08 PM
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Posts: 5,400
Thanks: 1962


QUOTE
Magellan announces float of investment trust

DAVID ROGERS - The Australian

A new listed investment trust offered by Australia’s Magellan Financial Group could end up being one of the nation’s biggest ever initial public offers when it starts trading on the ASX in October.

It will also be particularly attractive to up to 300,000 existing Magellan shareholders and investors in Magellan retail strategies eligible for a “loyalty reward” of additional units worth 6.25 per cent of the value of units allotted to them under a “priority offer” that will occur alongside the IPO.

Eligible applicants under the priority offer will be invited to subscribe for units equivalent to 10 per cent of the value of their investment as either a shareholder in Magellan or an investor in a retail strategy managed by Magellan or $30,000, whichever is greater.

Together with the general public via joint lead managers Commonwealth Bank, NAB, Ord Minnett and Taylor Collinson, the attractively-structured priority offer could potentially crack the $2.5 billion mark, making it one Australia’s five biggest IPOs.

The Magellan Global Trust will invest in 15-35 high-quality global companies with a mandate that allows it to manage its currency exposure and hold up to 50 per cent of the portfolio in cash. Unlike many global equity products, it will aim to pay a semi-annual distribution of 4 per cent per annum.

“We believe that the Magellan Global Trust will be an attractive vehicle for investors making an investment in global equities,” CEO Hamish Douglass said. “We believe that retail investors value regular cash distributions and this has been missing in many global equity products.”

Despite the lack of any pullback in global share markets as the US bourse continues to hit record highs after an eight-year bull market, the Magellan Global Trust off is occurring at a time when the Australian dollar is hitting multiyear highs above 80 US cents.


“In the absence of sort of a nuclear war on the Korean peninsula, I can’t see a triggering event (for a pullback in markets),” said Mr Douglass. “Certainly the world’s financial system is in better shape than it’s been in decades and China seems to have stabilised somewhat dramatically.

“Markets have gone up a lot, but that’s different to saying markets are about to have a crash. We aren’t anticipating a major market event. We are investing in a very focused portfolio and we still see substantial opportunities for investments on a focused basis.”

“I would also note that the Australian dollar at present has rallied pretty strongly, so if you’re an Australian looking to diversify offshore with the dollar around 80 cents that may be beneficial.”




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Oct 27 2016, 01:21 PM
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Posts: 5,400
Thanks: 1962


A decade of Magellan: lessons in building a fund manager
QUOTE
And so Douglass and Casarotti waited years until Bissaker opened the door, and it was the same across the other major platforms.

Magellan did not have a month of retail flows over $50 million until 2012, but they never stopped making the calls, drinking the bad coffee, presenting wherever possible and telling the Magellan story.

They needed to build a performance record, dealer group inclusion on approved product lists, researcher ratings and appetite in the retail market first.
https://cuffelinks.com.au/magellan-lessons-...g-fund-manager/

great story



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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