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
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