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
Pinnacle has reported a 151 per cent rise in net profit after tax in its half-year results, helped by overseas expansion and affiliate performance fees with further international deals in the pipeline.
Global asset manager Janus Henderson generated more than US$2 billion in net inflows during 2024, thanks to its strengthened intermediary channel and M&A activity.
Amid the rising demand for more flexible private equity investment options, LGT Capital Partners has launched a semi-liquid fund for wholesale investors in Australia and New Zealand.
The departure of Gerald Stack from Magellan could lead to redemptions as high as $8 billion, according to Morningstar, given the majority of assets in his infrastructure strategies are held by institutional clients.
