Magellan Expertly Navigating Wild Seas With Another Strong Half. AUD 29 FVE Unchanged
Narrow-moat Magellan Financial Group announced an impressive set of half-year results, delivered against a backdrop of turbulent markets. Underlying net profit after tax, or NPAT, increased by 62% from the previous corresponding period, or pcp, to AUD 176.3 million driven by increased funds under management, or FUM. Within the six months, spot FUM increased to a high of nearly AUD 75 billion before dipping to AUD 70.8 billion by the end of December as higher volatility gripped global markets. Ev...Magellan Financial Group is engaged in funds management, providing international investment funds to high net worth and retail investors in Australia and New Zealand, and institutional investors globally. Co.'s main operating company is Magellan Asset Management Limited (MAM). Co.'s key operating segments are: Funds Management, in which MAM undertakes the funds management activities and MFG Services LLC acts as a service company providing MAM with services of investment analysts and distribution personnel; and Principal Investments, which include investments in the ASX Quoted Funds, the Unlisted Magellan Funds, and a select portfolio comprising Australian and international listed companies.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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