Magellan is betting on generative artificial intelligence in its flagship $7 billion Magellan Global Fund as it believes “major progressive evolutions” and heightened innovation will develop in the space.
The $7.5 billion Magellan Global fund is exploring increasing its weighting to China as it believes its re-opening will lead the country to be the story of 2023.
The embattled fund manager is backing high-quality stocks as the outlook for global growth darkens, and it seeks to rebuild its investing track record.
Ratings house Morningstar has downgraded a handful of Magellan Financial Group’s investment funds, saying the loss of senior fund managers and wider investment team turnover could impact performance.