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Did you buy Magellan (MFG)?

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Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

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Question asked 19/04/2024

Did you buy Magellan (MFG)?

Good morning MM Team, First I want to tell you, that you are doing a great job. I have only been a member for a short time, but I have already made back the cost of my membership many times. My question is about Magellan (MFG). You have issued a "Trade Alert" for buying around $9.30, on the 12 of April. The price on that day was slightly above that, but in subsequent days it has fallen. Last Wednesday, it was available under $9 at times. However, no further news from you on MFG and the Active Income portfolio does not show it. So, question: Did you buy MFG and if not, then why not? Kind regards, John

Answer

Hi John,

Thanks for the thumbs up John, much appreciated!

We did indeed by MFG and simply forgot to manually upload it onto our website, thanks for the heads-up, its been done now: Active Income Portfolio.

As you can see MFG is currently trading like a “High Beta stock” which means it often magnifies the moves of the ASX, e.g. if the ASX falls 1% it might fall 2%. We remain bullish equities medium term so we are comfortable taking on the Beta risk at this stage noting that we will be quick to cut this if our view changes. We think MFG is starting to turn its performance around, which should help stem FUM outflows, whilst value can also be unlocked through their capital investments.

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Magellan Financial Group Ltd (MFG)

LAST UPDATED 18/04/2024 11:24

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