MFG

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

Ask a question

The Latest Q&A

Question asked 05/03/2022

MFG

Hi James, I am interested in your current view on MFG as it is hitting new lows. Regards Jeff Hi James, I note that MM is still holding on to MFG and has done so during the drastic fall from the stars. I have chosen to do the same but am now wondering whether there is a positive way at all out of this mess. You'll no doubt have some good reasons to hold on to MFG so can you please share how MM thinks the navigation back to safety (or glory) is going to look like ? Jan

Answer

Hi guys- we own a small 3% position in the Income Portfolio that we haven’t added to at this stage, the entire funds management sector has been under pressure with MFG being at the pointy end of that for obvious reasons. They are too cheap to sell, and I believe they will recover but it will be a long road back. We will add to the position when there is evidence the stock is turning around, and the sector is finding some love again. Performance of the funds the key which will stem the outflow of FUM. The new team is about to travel around the country doing a series of events.

chart

Magellan Financial Group (MFG)

LAST UPDATED 04/03/2022 17:18

Latest Reports

Morning report 24/04/2024

Portfolio Positioning: Bonds fell, dragging stocks along for the ride, both are now basing in our opinion

Bond markets have struggled over recent weeks as inflation appeared increasingly “sticky,” but it hardly registers on the chart compared to their weakness through 2021/2 and mid-2023. We believe the local credit markets have come back to realistic levels as the RBA awaits further economic data to deliver clarity on the underlying strength and direction of the local economy. Traders have gone from being far too optimistic on rate cuts into Christmas to becoming almost pessimistic; the US futures markets have gone from pricing in three cuts to 1.77 cuts, or one definitely, and probably two.

Afternoon report 23/04/2024

The Match Out: Gold and Oil left behind again, Equities tick higher

Investors continued the 180-degree about-face from last week's sentiment, happy to take on risk for the second consecutive day to start this week seeing the ASX200 through a 200pt gain from Friday’s panic lows early in today’s session. Tech was the standout as US 2yr yields retreated (marginally) from the spike above 5% last week while Healthcare and Financials also joined in the rebound. Energy and Gold were the main areas finding it tough again today, for the same geopolitical reasons as Monday’s session.