FUM outflow pain continues for Magellan
Fund manager Magellan has experienced net outflows of approximately $5 billion since the end of February.
The company reported to the Australian Securities Exchange (ASX) that as at 11 March 2022 Magellan had funds under management of approximately $69.1 billion compared with the last reported funds under management (FUM) of $77.2 billion).
It said this was comprised of $39.2 billion in Global Equities, $20.4 billion in Infrastructure Equities and $9.5 billion in Australian equities.
“The change in FUM comprised market movements (including foreign exchange and reflecting recent market volatility), net outflows and notifications of intention to redeem since the most recent FUM update on 25 February 2022.
“Magellan has experienced net outflows of approximately $5 billion since the most recent FUM update on 25 February 2022, which comprised net institutional outflows of $4.7 billion and net retail outflows of $0.3 billion,” the ASX announcement said.
“In addition, since 25 February 2022, Magellan has received notifications to redeem of $1.0 billion, which has been reflected in the FUM figures,” the fund manager said.
How about starting with giving Real Advisers access to ATO TBC & TSB. Only moronic or internationally difficult Govt Bureaucracies…
Have a look at this guys background. Zero Financial Services experience but plenty of union and labor party experience. Wonder…
Why and when do the regulated dictate terms to the regulator? This is a genuine and uniquely Australian joke! Of…
Be good to know which companies are doing these valuations and their connections to industry super as well as how…
100%