ANDREW FORMICA

Funds management

Although the fund manager continued to recover in March, the pace was slower compared to previous months....

Funds management

Magellan has reported a funds under management increase, rising to $37.2 billion, as Sophia Rahmani prepares to join the firm in May....

Funds management

Magellan has detailed its plan to revamp its business in the US, with executive chairman Andrew Formica saying he can see a “tremendous opportunity” for the firm. ...

Funds management

Ahead of its half-year results next week, Magellan has reported a rise in funds under management for the third consecutive month, but outflows remain elevated....

Funds management

Magellan has shared its average funds under management for the second half of 2023 as it reports a second month of rising assets thanks to improved institutional flows....

Funds management

In the first full month since the exit of chief executive, David George, Magellan has reported a rise in funds under management for the first time since January 2023. ...

Funds management

Magellan has come up against the “first strike” rule of the Corporations Act after more than half of its shareholders rejected its remuneration report....

Funds management

Magellan executive chair Andrew Formica has highlighted the skills the firm will be looking for in its recruitment of a new CEO to replace David George, as he scraps its ...

Funds management

Magellan experienced outflows of $800 million in October but institutional outflows have lessened from $1.7 billion in the previous month....

Funds management

The departure of CEO and MD David George is yet another turbulent move for Magellan, coming just weeks after the company celebrated completing its board renewal process. ...

People & Products

Magellan Financial Group’s CEO and managing director, David George, has stepped down from the asset manager, effective today, after just over a year in the role. ...

Funds management

Magellan is considering a conversion of the closed class units of its Magellan Global Fund into open ones in a bid to narrow its discount to NAV....

Funds management

Magellan’s new chairman, Andrew Formica, says he is “deeply motivated” to return the fund manager to a growth footing by expanding its offerings. ...

Funds management

The asset manager has announced the conclusion of its board renewal process that began in November 2022 with its latest appointment of Cathy Kovacs as a non-executive dir...

Funds management

Magellan chief executive, David George, has sent a message to advisers that they are a key client base for the firm while discussing how M&A could help to reach its $100 ...

 

MARKET INSIGHTS

sub-bg sidebar subscription

Never miss the latest news and developments in wealth management industry

Squeaky'21

My view is that after 2026 there will be quite a bit less than 10,000 'advisers' (investment advisers) and less than 100...

1 week 1 day ago
Jason Warlond

Dugald makes a great point that not everyone's definition of green is the same and gives a good example. Funds have bee...

1 week 1 day ago
Jasmin Jakupovic

How did they get the AFSL in the first place? Given the green light by ASIC. This is terrible example of ASIC's incompet...

1 week 2 days ago

AustralianSuper and Australian Retirement Trust have posted the financial results for the 2022–23 financial year for their combined 5.3 million members....

9 months 2 weeks ago

A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super. ...

9 months ago

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....

9 months 2 weeks ago