Australia's Magellan Financial Group falls on lower FUM

Magellan Financial

05/09/2024 02:34

** Shares of Magellan Financial Group  MFG.AX  fall as much
as 1.1% to A$9.12, their lowest level since Aug. 29
    ** Asset manager posts fund under management (FUM) of A$37.8
bln ($25.43 bln) as at Aug.30, 2024 versus A$38.4 bln as at July
31, 2024
    ** In August, co saw net outflows of A$0.7 bln
    ** Stock has fallen 0.7% this year as of last close

($1 = 1.4865 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))