MFG magellan financial group limited

Ann: Funds Under Management - July 2023, page-7

  1. 4,343 Posts.
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    redemptions difficult to do in July. theres always been a lag to outflows. watch it accelerate back to (-$2bn) outflow next month.

    FX finally worked against you and appears to have more than offset any investment gains:

    Opening Jun23 FUM $39.7
    Net client outflows -$0.4bn
    Subtotal = $39.3bn-
    Less: July FUM 39.2bn
    FX+Investment =(-$0.1bn)

    pathetic returns, couldnt even cover the FX loss!!! this will naturally cause more fum to exit.

    waiting for the financials - should be an interesting read (red ink)!!! lets see how they dress it up because there is zero sugar coating this...!
 
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