Magellan Financial Group's Latest Monthly FUM Drop a Potential Warning Sign; FVE Maintained
Narrow-moat-rated Magellan Financial Group's funds under management for November were slightly lower month on month but continued their upward trajectory after a period of sustained outperformance. Net inflows of AUD 522 million weren’t enough to prevent an AUD 870 million reduction in total FUM to AUD 72.1 billion as negative performance for the period had an impact. We remain confident in the asset manager’s ability to navigate increasingly challenging times and maintain our AUD 28 fair value ...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.
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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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