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
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
