Magellan Financial Group shares lift following $600m AUM gain
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More news: Shares in Magellan Financial Group lifted in afternoon trade after the investment management firm announced that its assets under management had increased in value by $600 million in the September quarter.
At 2:09pm AEDT, shares in Magellan were up 1.2% to $10.34.
Magellan Financial Group AUM lifts $600m in Sept quarter
The news: Global investment management firm Magellan Financial Group saw its assets under management lift $600 million during the September quarter.
The numbers: Magellan’s total assets under management lifted from $39.6 billion at the end of the June quarter to $40.2 billion at the end of the September quarter.
Retail assets under management fell $600 million over the period while institutional assets under management lifted $1.2 billion.
The source: ASX
