Magellan has appointed a deputy portfolio manager to work on its $705 million Airlie Australian Share Fund.
Magellan Asset Management director, Kirsten Morton, has stepped down from the board.
Australian equities have fallen dramatically for the second consecutive month at Magellan, falling by 25 per cent in April.
Magellan has seen funds under management fall to $43.2 billion with Australian equities falling by a third.
The asset manager has announced the departure of a senior fund manager and the subsquent handover of responsibilities.
Magellan’s acquisition of Airlie Funds Management melds similar reputations and cultures.
Magellan’s acquisition of Airlie Funds Management signals the manager’s foray into the domestic equities space, after years of strong performance ...
Magellan Financial Group has acquired John Sevior’s Airlie Funds Management and Frontier Partners Group in North America.
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