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Is Magellan (MFG) still a good option?

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Question asked 15/06/2024

Is Magellan (MFG) still a good option?

Hi MM Team I use MM's analysis as a giude for my SMSF investments and back in April MM announced a 4% weighting for MFG in the Income Portfolio "We are buying Magellan (MFG) in the Active Income Portfolio today following a recent pullback. The risk/reward looks attractive again." For some reason I didn't make the investment and I notice today that since April the price has fallen from $9.30 to today's price of $8.14. What do you think has caused the drop and do you think it is still worth buying into at the current price? Cheers Mark

Answer

Hi Mark,

The simple answer yes, we actually discussed potentially increasing our exposure in a more detailed look at MFG in late May. We believe the recent sell-off is overdone but if we see a pullback in global equities it will be tough for MFG to retest $10 in the near future.

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Magellan Financial Group (MFG)

LAST UPDATED 15/06/2024 09:05

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