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.
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