Hi
@pete11Here are comparative numbers for ASX listed fund managers. PTM and Magellan have organically reduced FUM. PDL and PPT have grown through acquisition, but have issued a lot of shares to raise capital. PAC has grown FUM through acquisition using proceeds from selling 1% of GQG and redeploying into another boutique fund manager. Here is FUM growth over the last year:
In order from highest to lowest:
PPT: +248.3% (acquisition), December 2021 quarterly shows rapid reduction in growth
PAC: +51.7% (acquisition), 5% FUM growth increase for the quarter without latest acquisition
PDL: +50.6% (acquisition), $5B outflow (believe partly due to St James Pl loss, Magellan wasn't the only Fund Manager to get hit by them)
GQG: +44.3% (organic), large performance gains (and of late loss avoidance), inflow contributed approximately 10% to growth
AEF: +37.4% (organic), consistent inflows from Superannuation business
PNI: +32.7% (acquisition), minor $1B contribution made by latest acquisition
PCG: +18.3% (organic)
PTM: -6.6% (organic)
MFG: -27.2% (organic), performance plus mandate losses. Believe Magellan are on trend for under $AUD70B at the end of March, they would require FUM outflow to have stopped from the beginning of March.
Also performance globally by other Fund Managers should be looked at:
Blackstone results
here show +41% growth over the 2021 calendar year
Franklin Templeton results
here show they were on trend to grow by 1.4% for the year, but with the current market they are down 1.4% year on year (not that much at all given they are managing such a large amount of FUM).
NB, all Fund Managers have different asset classes so one will do better than another over certain time horizons. You have to make your own choice which specific Fund Managers you select to compare against. The above manager's provide a good collection of views to compare Magellan against - Global Equity, Australian Equity, Infrastructure Equity, Private Assets, etc.
Note, yellow highlighted boxes indicate fund managers where FUM is released quarterly.
Best of Luck
Lost
(20min delay)