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MFF Capital Investments Limited

Fund Manager: Magellan Financial Group
Inception Date: Dec 01, 2006

Chris Mackay, the fund manager behind the $1.4 billion listed investment company MFF Capital Investments, admitted that he hasn't been able to find a single "compelling" buy that meets his selective investment criteria, and the market's corrections have been "trivial" in depth. Risks are building, he told MFF's annual meeting in Sydney on Wednesday. Mr Mackay is a co-founder of Magellan Financial Group and his personal wealth is estimated at $680 million according to the Financial Review Rich List. The independent MFF's biggest holdings are Visa, MasterCard and Home Depot. [More]

Global markets recorded positive gains in the 2018 Financial Year, continuing their march forward in what is becoming one of the longest bull markets in history. This all occurred in the wake of rising global interest rates, US trade pressures with China and the unravelling of Bitcoin mania. The Australian market ended the financial year up a respectable 12.5% including dividends, with global markets up around 15%. The period was free of any major volatilty, with no large drops recorded. As we w ... [More]

The board of the $1 billion Chris Mackay-led MFF Capital Investments talks about Amazon at every meeting, even though it doesn't invest in the category killer. MFF's managing director told shareholders at the global-listed investment company's annual meeting on Wednesday, "we have a standing item to report each meeting on the so-called Amazon effect. It's very important." MFF's chairman is Dick Warburton. Mr Mackay owns Visa, MasterCard, Home Depot, Bank of America and Lowe's in his portfolio, and has a smaller position in CVS Health. The Magellan co-founder took a more cautious view on global markets than a year ago, but concluded, "it remains rational to be optimistic". [More]

The Magellan Global Trust (MGG) IPO is now open through OnMarket Bookbuilds. If you are interested in applying for shares in the IPO you can do so here. OnMarket Bookbuilds are currently offering the chance to win $2,000 to invest in any IPO for new members. You'd have to be living under a rock to have not heard about fund manager giant, Magellan's latest offering, Magellan Global Trust (MGG), seeking to raise as much as they can. A generous offer to existing Magellan f ... [More]

Over the past decade, Chris Mackay and Hamish Douglass have proved investment bankers can make great investors. But as Magellan Financial Group, the $4.8 billion company the pair co-founded, prepares to raise funds for a multibillion-dollar listed global investment trust, it has become clear how separately the co-founders now choose to work. Investors in Mr Mackay's MFF Capital Investments – originally called the Magellan Flagship Fund – are not being offered the loyalty bonus available to investors in Magellan funds, despite it being the first fund the company raised back in 2006. The decision to exclude MFF from the bonus offer is being seen by some in the sharemarket as the most public step yet in the separation of roles in the once-close partnership between Mr Douglass and Mr Mackay, which began when Mr Mackay stepped down as MFG's executive chairman in 2013.   [More]

It's back to the future for Magellan Financial Group.  Street Talk understands that the Hamish Douglass-run funds management success story is considering a new listed investment company which, if successful, could be at least three times bigger than any other listed fund raising in Australia.  It's understood Magellan Financial Group has already been talking to brokers to oversee the potential $1 billion-plus initial public offering, slated for later this year.  Taylor Collison - the stockbroker that led Magellan's last big LIC raising; a $378 million deal in 2006 - is believed to be on board, along with retail investor heavyweight Morgans. [More]

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