Outflows continue for Magellan
Funds under management at Magellan have fallen to $68.6 billion, a monthly decrease of $1.4 billion.
In an update to the Australian Securities Exchange (ASX), the firm said it saw assets under management fall from $70 billion at the end of March to $68.6 billion at the end of April.
Total funds under management were comprised of $24.8 billion in the retail space, down from $25.7 billion, and $43.8 billion in the institutional space, down from $44.3 billion.
Looking at specific divisions, global equities were down from $39.6 billion to $38 billion and Australian equities were flat at $9.9 billion.
However, infrastructure equities saw a slight uptick from $20.5 billion to $20.7 billion.
The firm was still yet to confirm a return date for chief investment officer, Hamish Douglass, who took a leave of absence from the firm in February.
AUTHOR
Laura Dew
Recommended for you
Franklin Templeton has announced it will close its Australian Core Plus Bond Fund, having changed two fixed income funds in its Brandywine range last week.
Investment solution provider Channel Capital has appointed James Archer as its latest distribution director, joining from Pinnacle Investment Management.
Bennelong Funds Management has signed a memorandum of understanding with US private credit manager Monroe Capital to distribute its products in Australia.
Global equity manager Talaria Capital has appointed a Sydney-based sales director as it grows its distribution presence across Australia.
