Investment Management group, Magellan Financial Group Limited (ASX: MFG) has a track record for creating and safeguarding wealth for its investors. on 4 April 2019, the company released its Funds Under Management (FUM) Update for March 2019.
As at 29 March 2019, the group had total FUM of A$79,442 Mn which includes Retail FUM of A$21,276 Mn and Institutional FUM of A$58,166 Mn.
In March 2019, the group experienced net inflows of $1,177 Mn which included net retail inflows of $357 million. It also included net institutional inflows of $820 Mn. The net retail inflows of $357 include $277 million that was received by Magellan Global Trust through the Unit Purchase Plan that closed on 6 March 2019. In February the company had total FUM of A$76,030 Mn.
The Board of MFG recently announced the appointment of Ms. Marcia Venegas Company Secretary. Ms. Venegas is also the person nominated under Listing Rule 12.6 for communication with the ASX with regards to Listing Rule matters.
For the six months ended 31 December 2018, the company reported Average funds under management of $72.1 billion which was 35% higher than the previous corresponding period (pcp) which drove 28% increase in management and services fees to $228.1 million. Further, the company reported Statutory net profit after tax of $173.5 million.
During the half year period, the company’s Board announced an interim dividend of 73.8 cents per share, which was 66 percent higher than interim dividend of 2018 and now for FY19 the company is expecting to pay a Performance Fee Dividend of 90-95% of the net crystallised performance fees after tax.
At 30 June 2018, the Group had FUM of $69.5 billion, split between global equities (76 percent), infrastructure equities (15 percent) and Australian equities (9 percent). This compares with FUM of $50.6 billion at 30 June 2017. The increase in FUM was driven by investment performance of approximately $8.5 billion less cash distributions (net of reinvestment) of approximately $0.3 billion, net inflows of $4.4 billion and the acquisition of Airlie in March 2018 ($6.3 billion).
Now, let’s have a glance at the company’s share performance and the return it has posted in the last few months. The stock traded at a price of $37.790, up by 1.178% during the day’s trade with a market capitalisation of ~$6.61 billion as on 4 April 2019. The counter opened the day at $37.930 and reached the day’s high of $38.250 and touched a day’s low of $37.390 with a daily volume of ~ 432,347. The stock has provided a year till date return of 59.82% & also posted returns of 38.38%, 55.95% & 4.24% over the past six months, three & one-month period respectively. It had a 52-week high price of $38.250 and touched 52 weeks low of $21.800, with an average volume of ~ 538,116.
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