MFG 6.08% $9.07 magellan financial group limited

Ann: Funds Under Management - February 2023, page-4

  1. 3,685 Posts.
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    wow - bleeding retail - your LARGEST (by a mile) fee earner!

    so:
    Jan FUM = $46.2bn
    LESS
    Feb client outflow = -(0.8bn)
    = Feb FUM of $45.4bn

    This implies that mkt performance was entirely offset by FX (fake) gains! the wild FX swing benefit shielded the result from being EVEN UGLIER by a very, very disappointing performance (that will drive FURTHER outflows)!!!

    very lucky FX worked in your favour to hide the abysmal performance!!! had FX been neutral, this result would be -(1.4bn) WORSE ($44bn instead of $45.4bn)!!!

    so much for stemming outflows.....retail has awoken to the RED ink for high fees conundrum!
 
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