Magellan loses further $1b in outflows
Fund manager Magellan has continued to leak funds under management, reporting a further $1 billion in outflows in November.
The company reported to the Australian Securities Exchange that it experienced net outflows of $1 billion across the month which included net retail outflows of $0.3 billion and net institutional outflows of $0.7 billion.
The ASX announcement said that total funds under management as at 30 November stood at $35.2 billion.
The declines occurred with respect to Global Equities and Australian Equities which were slightly offset by an increase in funds with respect to Infrastructure Equities.
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