Jarden
10th SeptemberMagellan Financial
Our fund flow analysis suggests MFG could experience net outflows of 1-5% of AUM over the next 3 years, with the variability contingent on relative fund performance and MFG's ability to distribute product despite deteriorating performance. As a result, we see outflow estimates at 2% of AUM for FY22F and 1% for FY23F and downside risk to Visible Alpha Consensus Data earnings, which assume net neutral flows in FY22F (+0.3%), before lifting to ~2% in FY23F and ~3% in FY24F. With our FY22F and FY23F estimates 8% and 6% below consensus EPS, respectively, we lower our rating from Neutral to Underweight.
MFG in the BUY zone, page-42
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Last
$9.95 |
Change
-0.070(0.70%) |
Mkt cap ! $1.779B | |||
| Open | High | Low | Value | Volume |
| $10.04 | $10.13 | $9.92 | $3.725M | 372.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2494 | $9.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.00 | 45242 | 13 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| MFG (ASX) Chart |