Magellan reports $41m net inflows in December
Magellan Financial Group has reported net inflows of $41 million, which included net retail inflows industry of $90 million and net institutional outflows of $49 million.
Average funds under management (FUM) for the six months ending 31 December, 2018, stood at $72 million compared to $53.6 million a year before.
Magellan also said that its funds would pay distributions of approximately $54 million in January which would be reflected in the FUM figures next month.
The firm would be also entitled to performance fees of around $42 million for the six months to December, 2018.
AUTHOR
Oksana Patron
Recommended for you
Clime Investment Management has welcomed an independent director to its board, which follows a series of recent appointments at the company.
Ethical investment manager Australian Ethical has cited the ongoing challenging market environment for its modest decrease in assets over the latest quarter.
Commentators have said Australian fund managers are less knowledgeable compared with overseas peers when it comes to expanding their range with ETFs and underestimating the competition from passive strategies.
VanEck is to list two ETFs on the ASX next week, one investing in residential mortgage-backed securities and the other in Indian companies.
