Magellan posts $2.4bn fall in assets under management

The news: Magellan Financial Group has posted a drop of $2.4 billion in assets under management (AUM) for the three months to March 2026.

The numbers: Its total AUM now sits at $37.5 billion, compared to $39.9 billion at the end of December. The drop in AUM included outflows, market movement and payment of distributions, management fees and performance fees.

Magellan’s retail AUM dropped $1.7 billion, to $14.1 billion, while its institutional AUM dropped $700 million, to $23.4 billion.

The context: Magellan will hold an extraordinary general meeting (EGM) on Friday for shareholders to vote on its proposal to merge with Barrenjoey Capital Partners.