Magellan reports growth in its retail offering
Magellan Financial Group has reported net inflows of $282.8 million over the month to 31 October, growing its funds under management to $4.85 billion.
According to its latest FUM update on the Australian Securities Exchange, the group's retail funds under management reported a value of $2.35 billion, comprising $2.23 billion in global equities.
The October net inflows included $169.5 million into the Magellan Global Fund/Colonial First State Magellan Global Option, compared to $133.2 million as at 30 September.
Magellan head of distribution Frank Casarotti said retail had experienced steady inflows over the last 12 to 18 months due to increased platform, model portfolio and approved product list exposure.
Going forward, Casarotti said the group would be taking a "two-pronged attack" to building its retail offering.
"We want to develop deeper, more meaningful relationships with advisers within dealer groups who aren't supporting us, and blend that with supporting research and transparency to existing supporters," he said.
Recommended for you
In this week’s special edition of Relative Return Insider, we bring you outgoing Financial Services Minister Stephen Jones’ keynote from Momentum Media’s Election 2025 event, followed by a Q&A focused on the Delivering Better Financial Outcomes reforms.
In this week’s episode of Relative Return Unplugged, Dr Vladimir Tyazhelnikov from the University of Sydney’s School of Economics joins the show to break down the shifting sands of global trade dynamics and attempt to understand the way US President Donald Trump is employing tariffs.
In this week’s special episode of Relative Return Unplugged, we present shadow treasurer Angus Taylor’s address at Momentum Media’s Election 2025 event, followed by a Q&A covering the Coalition’s plans for the financial services sector.
In this week’s episode of Relative Return Unplugged, AMP chief economist Shane Oliver joins the show to unravel the web of tariffs that US President Donald Trump launched on trading partners and take a look at the way global economies are likely to be impacted.
