Australia's Magellan Financial gains on higher funds under management

Magellan Financial

06/03/2024 24:03

** Shares of Magellan Financial Group  MFG.AX  rise as much
as 6.1% to A$9.06
    ** MFG stock at its highest level since Feb 19
    ** Asset manager says total funds under management (FUM) as
of Feb end was A$37.2 bln ($24.19 bln), above A$36.3 bln at the
end of Jan
    ** MFG stock currently up 4.6% at A$8.93, set for best day
since Feb 15 if gains hold
    ** Stock down ~8% YTD, as of last close


($1 = 1.5378 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))