Magellan loses another $2.5b in FUM
Magellan is continuing to suffer significant funds under management outflows, reporting net outflows of $2.5 billion in July.
The fund manager has told the Australian Securities Exchange (ASX) that the $2.5 billion in net outflows were comprised of net retail outflows of $0.4 billion and net institutional outflows of $2.1 billion.
Magellan told the ASX that in future, flows would be released monthly with the company’s funds under management (FUM) update.
Magellan reported that as at 29 July it had $22.6billion in retail funds under management and $37.6 in institutional FUM.
So it's not just Asteron clients that TAL has been delivering lousy service to.
Must be the 45th or 46th time I've read this...
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