Magellan Financial Group has announced its flow movements for the December quarter, showing a return to outflows from retail investors.
The fund manager announced in June that it would be switching from monthly FUM update to quarterly ones.
As of 31 December, Magellan said it had $39.9 billion in FUM, down only slightly from $40.2 billion at the end of September.
This was divided between $15.8 billion in retail FUM and $24.1 billion in institutional FUM.
Overall net flows were outflows of $300 million with institutional inflows of $200 million being offset by $500 million in outflows from retail ones, compared to net inflows of $500 million in the September quarter.
The largest of these Q4 inflows were from its Magellan Global Equities funds which saw retail outflows of $600 million to bring FUM to $9 billion.
During the fourth quarter of 2025, the firm saw the loss of global equities portfolio manager Arvid Streimann who resigned in reaction to an “an investigation into an alleged relationship” between Streimann and a junior employee.
As a result of his departure, management of his global equity funds is now held by Alan Pullen and Casey McLean. This includes the Magellan Global Equities Fund (Currency Hedged) Active ETF and the Magellan Global Fund – Open Class Active ETF.
Streimann joined Magellan in 2014 from a role as an equities analyst at Morgan Stanley where he worked for four years and was later promoted to head of global equities in 2024 from a position of deputy portfolio manager. He is also chair of the firm’s macro committee.
Magellan Global Listed Infrastructure fell slightly from $3.5 billion to $3.4 billion while Airlie Australian Equities was flat at $1.2 billion.
Its newest vehicles – Vinva Global and Australian Equities – saw retail inflows of $200 million to stand at $2.2 billion.
Magellan acquired a 29.5 per cent stake in Vinva in 2024 which sees it distribute Vinva’s products and investment strategies through its global distribution team as part of an exclusive distribution agreement. Since then, four systematic equity funds have been launched and it established a global distribution arrangement.
For institutional investors, flows into both its global equities and global listed infrastructure assets were flat while Airlie Australian Equities saw institutional inflows of $200 million to stand at $7.6 billion.
Earlier in the year of Gerald Stack, former head of investments, took up a role as chief executive of MFF Capital Investments. MFF was formerly associated with Magellan but transitioned to a self-sufficient investment company in the second half of 2025.
