Magellan Financial Group Ltd (ASX:MFG) Funds Under Management Update
Funds Under Management Overview
Magellan Financial Group Ltd (ASX:MFG) reported total funds under management (FUM) of A$38.6 billion as of 31 December 2024, a decline from A$39.1 billion at the end of November 2024. The retail segment reported A$16.1 billion, while the institutional segment totaled A$22.5 billion.
Net Outflows and Performance Fees
The company experienced net outflows of A$0.4 billion in December, with A$0.2 billion in net retail outflows and A$0.2 billion in net institutional outflows. Magellan’s funds are set to distribute approximately A$0.6 billion in January, a figure that will be reflected in next month’s FUM announcement. Additionally, the company is estimated to receive performance fees of approximately A$6 million for the six-month period ending 31 December 2024, compared to A$0.1 million for the same period in 2023.
Average Funds Under Management
The average FUM for the six months ending December 2024 was A$38.0 billion, an increase from A$36.9 billion in the same period of the previous year.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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