Magath surprisingly succeeded Rene Meulensteen at Craven Cottage earlier in the month.
The German has tasted success in his home country, winning the Bundesliga trophy with Wolfsburg in 2008/09 and doesn't expect his position to change regardless of where Fulham finish this season.
He said: "I am convinced we are able to challenge the best as I definitely have the ambition to establish myself as a Premier League manager.
"There is no doubt what my aim is. Still, I have signed a deal with Fulham and this deal is valid for the Championship."
Fulham entertain Chelsea in the Premier League on Saturday.
Penfold. Thats who he reminds me of, an efficient and ruthless German Penfold.- hump333