Hi @mickeebee
What are your thoughts on impact to bottom line? This is probably the one good thing about the results, here is my tracking table based on FUM margins:
The overall margin is improving marginally as Institutional FUM flows out the door and Magellan can stabilise Retail FUM with higher returns.
$600M in Retail is a lot of clients pulling money out, but I am seeing this at the MF/ETF level in Australia too. Interest rate increases are forcing investors to pull out money across the board. Luckily for Magellan returns are only marginally lower than market.
Best of Luck
Lost
Ann: Funds Under Management - November 2022, page-16
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