Magellan Financial Group (ASX: MFG) had come forward and made an announcement about the Funds under Management (or FUM) as of December 2018. As per the press release dated January 8, 2018, the company’s funds under management witnessed a fall on the month-over-month basis. At the end of December 2018, the company’s FUM amounted to $70.7 billion while at the end of November 2018, the company’s total FUM was $72.1 billion. There was a decline in the company’s retail as well as institutional FUM in the December 2018 month as compared to the month of November 2018. The retail contribution had fallen from 19.4 billion in November 2018 to $19 billion in December 2018.
Let us now have a look which has happened to the institutional FUM. The company’s institutional FUM witnessed a fall from $52.6 billion in November 2018 to $51.7 billion in December 2018. However, the company had witnessed a rise in the Infrastructure equities in December 2018 as compared to the previous month. At the end of December 2018, the company’s infrastructure equities formed $11.9 billion of the total FUM while at the end of November 2018, the infrastructure equities formed $11.5 billion. The issued release also had information about the inflows which the company had witnessed in the month of December 2018. The company encountered net inflows amounting to $41 million. This figure of the net inflows consists net institutional outflows amounting to $49 million while the net retail inflows amounted to $90 million.
The press release reflected that Magellan funds would be giving around $54 million in the form of distributions (net of reinvestment) in the month of January. The company had also stated that it is eligible for the performance fees amounting to around $42 million with respect to 6 months ended December 31, 2018. However, the market players need to note that the performance fees might vary from period-to-period. However, Magellan Financial encountered an increase in the average FUM with respect to 6 months ended December 31, 2018 to $72 billion on the YoY basis. In the 6 months ended December 31, 2017, the company’s average FUM was $53.5 billion.
At the end of December 31, 2018, out of the total FUM of Magellan Financial Group, the global equities formed $52.4 billion while, in the same period, the Australian equities formed $6.3 billion.
Let’s have a quick look at how Magellan Financial Group is performing from the past few months and how the stock has performed today. On January 8, 2018, Magellan Financial Group ended on the strong note as the stock closed at A$24.480 per share which implies the rise of A$0.950 per share or 4.037%. The market capitalisation of Magellan Financial Group stood at $4.17 billion. The company is having the annual dividend yield of 5.72%. In the time period of previous 3 months and 6 months, the stock of Magellan Financial Group had given the return of -18.50% and -0.72%, respectively.
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