Magellan continues to bleed funds
Sydney-based Magellan has seen its funds under management fall from $112 billion at the end of last year to $69.1 billion this month.
In a brief market update today (Monday) it says funds under management dropped $5 billion to $69.1 billion in the two weeks to March 11. It blamed this on market turmoil and investors exiting.
The $5 billion fall is made up of net institutional outflows of $4.7 billion and net retail outflows of $300 million.
Magellan has $39.2 billion in global equities, $20.4 billion in infrastructure equities and $9.5 billion in Australian equities.
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