Magellan, AMP Capital downsize in the rain

Magellan, AMP Capital downsize in the rain
What does it mean when a fund manager offers free umbrellas as a corporate gift? (Image: Depositphoto)
David Chaplin
Full disclosure: I have a Magellan umbrella.Fuller disclosure: I have two Magellan umbrellas both picked up at the last great funds' management gathering in New Zealand before the covid-19 crisis went mainstream in March 2020.Greedy, maybe, but it was Auckland and what if one failed?Magellan pulled a big crowd to the 2020 show, filling the Cordis hotel to the brim in what may have just avoided being a super-spreader event by a matter of days.Headlined by co-founder Hamish Douglass, the sold-out Auckland presentation underscored the widespre...

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