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Magellan loses further $1b in outflows

Mike Taylor7 December 2023
Ripples in a pond

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.

Mike Taylor

Mike Taylor

Managing Editor/Publisher, Financial Newswire

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