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Showing 1 - 10 of 38 results for "MFG"

Magellan suffers $1bn in outflows

ELIZABETH MCARTHUR  |  THURSDAY, 7 APR 2022
Magellan experienced $1.1 billion in net outflows from March 11 to March 31. The outflows were made up of $500 million in retail outflows and $600 million in institutional outflows. The fund manager also announced to the ASX that it has received notification ...

Douglass exits Magellan board

KARREN VERGARA  |  MONDAY, 21 MAR 2022
Magellan Financial Group's Hamish Douglass tendered his resignation as a director from the board effective March 19. The board said his resignation is "due solely to his medical leave of absence", which was announced to the ASX on February 7. The ...

Magellan shuns turnaround companies

KARREN VERGARA  |  FRIDAY, 4 FEB 2022
... shareholders worried about what the separation from his wife Alexandra Douglass meant for the company's shareholding. MFG shares reached as high a $73.67 in February 2020 prior to the coronavirus correction. It currently trades below $19, which is ...

AMP North reduces fees, adds options

ANNABELLE DICKSON  |  FRIDAY, 24 SEP 2021
... global equities, private equity, technology and multi-asset. The funds include Legg Mason Martin Currie Emerging Markets Fund, MFG Core Infrastructure Fund, Pengana WHEB Sustainable Impact Fund, Perennial Better Future Trust, iShares Core MSCI World ...

Magellan to move to higher tax rate

KANIKA SOOD  |  WEDNESDAY, 18 AUG 2021
... at the full 30% rate from FY24, as the government abolishes laws that allowed it to pay only 10% tax on offshore earnings. MFG paid tax at 21.4% in the year ending June, lower than the 30% tax rate that applies to companies and lightening its total tax ...

Magellan profits dip

KANIKA SOOD  |  TUESDAY, 17 AUG 2021
... tax to $265.2 million in FY21, as its performance fee revenue slid 63% and recent investments drew a loss of $41.8 million. MFG ended FY21 with $103.7 billion in average funds under management, up 9% from FY20. In its funds management business, performance ...

Outflows at Magellan

KANIKA SOOD  |  THURSDAY, 8 JUL 2021
... has launched its retirement product FuturePay, taken a stake in FinClear and in Barrenjoey. For the December 2020 half year, MFG reported NPAT of $202 million, up 3% from the same period in 2019. Total average FUM was $100.9 billion (9% higher), resulting ...

Magellan launches FuturePay

ANNABELLE DICKSON  |  TUESDAY, 1 JUN 2021
... it effectively," Cairns said. He added that the amount to enter FuturePay will go up as the reserves become more valuable. MFG has set aside $50 million to be incrementally added to the support trust as new units are issued. It has committed a debt facility ...

Chi-X hires from ASX

ANNABELLE DICKSON  |  WEDNESDAY, 19 MAY 2021
... available to non-institutional investors thanks to the Chi-X launch. It comes after the 360 Capital Active Value Equity Fund and MFG Core Series and the Magellan Sustainable Fund all listed on Chi-X.

Clime appoints new chief executive

KANIKA SOOD  |  MONDAY, 26 APR 2021
... licensee development. "Clime is delighted to have secured Annick as our new group [chief executive]. Since the acquisition of MFG [Madison Financial Group], Annick has displayed a deep understanding of Clime's business and is expertly positioned ...
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