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MAGELLAN FINANCIAL GROUP LIMITED — Capital/Financing Update 2021
Jul 6, 2021
65324_rns_2021-07-06_47b5e14e-f6c6-4c41-ad39-57e0011c2c58.pdf
Capital/Financing Update
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MAGELLAN FINANCIAL GROUP LIMITED (‘MAGELLAN’) FUNDS UNDER MANAGEMENT (FUM) AND PERFORMANCE FEE UPDATE[1] AS AT 30 JUNE 2021
| A$ millionRetailInstitutionalTotal FUMGlobal EquitiesInfrastructure EquitiesAustralian Equities AUD/USD exchange rate | 30 Jun 202130,88383,019113,90285,43518,9489,5190.75075 | 31 Mar 202129,03377,021 |
|---|---|---|
| 106,054 | ||
| 79,33018,1628,5620.76165 |
For the June quarter, Magellan experienced net outflows of $351 million, which comprised of net retail outflows of $260 million and net institutional outflows of $91 million.
Magellan funds will pay distributions (net of reinvestment) of approximately $438 million in July, which will be reflected in the FUM figures in next month’s announcement.
Magellan is entitled to estimated performance fees of approximately $30 million[2] for the year ended 30 June 2021. Performance fees (if any) may fluctuate significantly from period to period.
Average FUM for the year ended 30 June 2021 was $103.7 billion[3] ($95.5 billion for the year ended 30 June 2020). Average AUD/USD exchange rate for the year ended 30 June 2021 was 0.7469[4] (0.6716 for the year ended 30 June 2020).
7 July 2021
Authorised by
Mariana Kolaroski | Company Secretary
1 Funds under management and estimated performance fees are approximate and rounded, and have not been audited. 2 Includes performance fees of $12.4 million disclosed in the Interim Financial Report (at 31 December 2020).
3 Calculated as the simple average of month-end FUM from 30 June 2020 to 30 June 2021 inclusive.
4 Simple average of the daily London 4pm AUD/USD exchange rate from 30 June 2020 to 30 June 2021 inclusive.