Magellan Financial set for worst week in over a year after fund changes, closures

Magellan Financial

08/05/2026 06:48

** Shares of Australia's Magellan Financial Group MFG.AX fall as much as 1.9% to A$8.91

** Stock down ~13% on week, heads for its worst week since late-January 2025

** Fund operators said on Tuesday 'Magellan Global Fund - Open Class Units – Active ETF' and 'Magellan Global Fund Hedged' will shift to Vinva's Global Alpha strategy, while the Magellan Global Equities Fund (Currency Hedged) is slated for closure

** Flagged a 55‑bps avg fee cut, about A$7 million ($5.05 million) in annual cost savings from these changes, others

** Stock down 10.3% YTD

($1 = 1.3848 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))