Magellan loses $1.3b FUM
Fund manager Magellan is continuing to suffer significant outflows.
The company announced to the Australian Securities Exchange (ASX) today that net it had experienced net outflows of $1.3 billion.
Total funds under management (FUM) fell from $60.2 billion as at the end of July to $57.6 billion.
It said that the decline in net inflows was comprised of net retail outflows of $0.6 billion and net institutional outflows of $0.7 billion.
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