Australia's Magellan Financial jumps as funds under management rise

Magellan Financial

06/08/2024 03:34

** Shares of Magellan Financial  MFG.AX  rise as much as
2.8% to A$9.610, set for best day since July 31, if current
gains hold     
    ** Fund manager says its total funds under management rose
to A$38.4 bln ($24.99 bln) as of July 31, from A$36.6 bln on
June 30
    ** In July, Magellan saw net outflows of A$0.1 bln
    ** MFG stock up 0.8% YTD, as of last close

($1 = 1.5366 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))