Magellan increases FUM
Fund manager, Magellan Financial Group, has increased Funds Under Management (FUM).
The group reported to the Australian Securities Exchange (ASX) today that FUM had increased from $50.4 billion as at 29 April to $52.205 billion as at 42 May.
The company told the ASX that it had experienced net inflows of $142 million in May which included net retail inflows into global equities strategies of $35 million, net retail inflows into Infrastructure Equities of $30 million and net institutional inflows of $77 million.
Recommended for you
Infrastructure assets are well-positioned to hedge against global uncertainty and can enhance the diversification of traditional portfolios with their evergreen characteristics, an investment chief believes.
Volatility in US markets means currency is becoming a critical decision factor in Australian investors’ ETF selection this year.
Clime Investment Management is overhauling the selection process for its APLs, with managing director Michael Baragwanath describing the threat of a product failure affecting clients as “pure nightmare fuel”.
Global X will expand its ETF range of exchange-traded funds next month with a low-cost Australian equity product as it chases ambitions of becoming a top issuer of ETFs in Australia.
