Magellan's October 2024 FUM update

Magellan Financial Group (ASX:MFG) has released its Funds Under Management (FUM) update for 31 October 2024. The total FUM remained at A$38.0 billion, unchanged from the previous month. This update highlights the company's steady financial position amidst minor shifts within asset classes and net outflows.

Magellan's FUM performance and outlook

Magellan Financial Group's FUM update for October 2024 indicates stable management with a total of A$38.0 billion. The breakdown shows retail funds at A$15.7 billion and institutional funds at A$22.3 billion. Asset class distribution saw global equities at A$14.0 billion, infrastructure equities at A$16.7 billion, and Australian equities steady at A$7.3 billion. The group reported net outflows of A$0.3 billion, with a noted decrease in the AUD/USD exchange rate to 0.65500 from 0.69375. Magellan remains focused on maintaining its financial stability and managing international investments with attention to currency fluctuations.

Executive insights on Magellan's FUM

The funds under management figures provided are approximate, rounded, and unaudited. The announcement was authorized by Marcia Venegas, the Company Secretary.