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
Lazard Asset Management has announced the launch of a new global equity fund, expanding its qualitative offering for Australian investors.
After introducing its first active ETF to the Australian market earlier this year, BlackRock is now preparing to launch its first actively managed, income-focused ETF by the end of November.
Milford Australia has welcomed two new funds to market, driven by advisers’ need for more liquid, transparent credit solutions that meet their strong appetite for fixed income solutions.
Perennial Partners has entered into a binding agreement to take a 50 per cent stake in Balmoral Investors and appoint it as the manager of Perennial's microcap strategy.
