Taco Tuesday is over at Magellan Financial Group – well, sort of.

The beleaguered fund manager has sold its stake in fast-growing Mexican food franchise Guzman y Gomez for a tasty 36.3 per cent return in less than 18 months. Chairman Hamish McLennan declared the sale an “excellent outcome for Magellan shareholders”, which shows confidence in the firm’s “strategy to focus on our core funds management business”.