Magellan Financial Group give June Funds update

Company News

by Rachael Jones

Magellan Financial Group (ASX:MFG) experienced net inflows of $488 million, which included net retail inflows of $132 million and net institutional inflows of $356 million.

Average Funds Under Management for the 12 months ending 30 June 2019 was $75.8 billion. $59.0 billion for the 12 months ended 30 June 2018.

Magellan funds will pay distributions (of approximately $604 million in July, which will be reflected in the FUM figures in next month’s announcement.

Shares in Magellan Financial Group (ASX:MFG) are trading 0.12 per cent lower at $54.34.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.