The ex-Magellan fundies betting the house on mid caps
After Magellan streamlined its operations and retired its small and mid-cap strategy, Michael Poulsen and Kris Webster gave it a new lease on life at Canopy Investors.
For a decade, Michael Poulsen and Kris Webster were behind some of Magellan’s best stock picks. Now, they’re turning their attention to the smaller end of the market, looking for the next big thing.
When “the wheels kind of fell off” Magellan, the embattled fund manager retired the strategy Poulsen and Webster had been working on.
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“They didn’t want to continue with that strategy, so our team left, and we thought — why not continue with this? We believe in the idea, we work well together, and we wanted to keep working together if we could, but we knew we needed some help to do that,” Poulsen said.
Taking Jack McManus with them, they launched Canopy Investors — a global small and mid-cap fund manager that quickly partnered with Bennelong, allowing them to focus on the market.
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