MFG magellan financial group limited

0.00%

$8.44

Ann: Funds Under Management and Performance Fee Update - Dec 2023, page-5

First 5 Last

Share
Profile

Follow
mickeebee

4,310 Posts.

1217

05/01/24

11:47

Post #: 71739996
Share

Originally posted by SteveSage: ↑

back of an envelope calc:
- retail vs Institutional share still relatively stable compared to Jun23 (retail ~46-47% of total FUMs)
- if we assume that they earn ~60bps on the average FUM of $36.9bn then you get revenues of ~$108m for 6 mths (note that for FY23 they earned 67bps so there is upside there of ~10-12m)
- they have guided to $95-100m in expenses for FY24 so assume they had costs of $50m
=> PBT of ~$53m for 1H23 on the funds management business

You then have probably a decent return from their Magellan Funds investment offset with losses at Barrenjoey (tough half for investment banks).....so not a total basket case, but the big question mark is whether this is the bottom of the cycle for outflows?

Expand

I had a crack (bored) - the change in fair value stuff in income I left same as prior year:

NPAT of ~$43m for H1......double it for guesstimate FY24 = $86m!! That is what the NPAT was for H1 was last year!!!!

P/E ~20!!!! sector is 12-14......

RED INK EVERYWHERE

MFG Price at posting: $9.61 Sentiment: Sell Disclosure: Not Held
1 Upvote

1 Great analysis

Reply

Top Stories

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

DYL

Much-shorted Oz Uranium stocks enjoying big week – and big price jumps

PH2

Iran, nuclear energy, oil – a revival for hydrogen! Nel ASA, Pure Hydrogen, Plug Power, and Oklo

BBT

'Clearly superior': Betr doesn't want to accept PointsBet picking Mixi instead

ASM

'Encouraging' signs as ASM puts cash-saving options to test at Dubbo drill site

First 5 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last $8.44		Change 0.000(0.00%)		Mkt cap ! $1.454B

Open	High	Low	Value	Volume
$8.38	$8.46	$8.34	$1.737M	206.7K

Buyers (Bids)

No.	Vol.	Price($)
22	2956	$8.43

Sellers (Offers)

Price($)	Vol.	No.
$8.44	1145	14

View Market Depth

No.	Vol.	Price($)
5	136	8.410
12	4593	8.400
16	4432	8.390
12	7491	8.380
11	8768	8.370

Price($)	Vol.	No.
8.420	2145	18
8.430	15666	10
8.440	3040	8
8.450	7276	14
8.460	8532	12

Last trade - 12.45pm 17/06/2025 (20 minute delay)

MFG (ASX) Chart

Ann: Funds Under Management and Performance Fee Update - Dec 2023, page-5

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

Much-shorted Oz Uranium stocks enjoying big week – and big price jumps

Iran, nuclear energy, oil – a revival for hydrogen! Nel ASA, Pure Hydrogen, Plug Power, and Oklo

'Clearly superior': Betr doesn't want to accept PointsBet picking Mixi instead

'Encouraging' signs as ASM puts cash-saving options to test at Dubbo drill site

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Funds Under Management and Performance Fee Update - Dec 2023, page-5

Top Stories

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

Much-shorted Oz Uranium stocks enjoying big week – and big price jumps

Iran, nuclear energy, oil – a revival for hydrogen! Nel ASA, Pure Hydrogen, Plug Power, and Oklo

'Clearly superior': Betr doesn't want to accept PointsBet picking Mixi instead

'Encouraging' signs as ASM puts cash-saving options to test at Dubbo drill site

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News