Australia's Magellan Financial jumps on FUM growth

Magellan Financial

06/06/2024 02:24

** Shares of asset manager Magellan Financial Group  MFG.AX 
rise as much as 3.1% to A$8.60
    ** Co says total funds under management (FUM) grew to A$36.7
bln ($24.46 bln) as at May 31 from A$36.3 bln at end of April
    ** Says it experienced net outflows of A$0.1 bln in May
    ** As of last close, stock down 10.1% this year vs a 11.1%
rise in Australia's financials index  .AXFJ 


($1 = 1.5002 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))