Magellan's Outflows Moderate, Investment Performance Mixed -- Market Talk

Dow Jones04-08

0125 GMT - Magellan's outflows continued to moderate during 3Q FY 2024 but investment performance remains mixed, say Macquarie analysts in a note. For 4Q the investment bank forecasts A$0.6 billion of retail outflows, with institutional outflows flat. For 3Q, retail outflows were A$0.5 billion. On performance, Macquarie says relative investment performance has been less volatile in recent periods, but the Global and Infrastructure funds remain below benchmarks. "Magellan needs to deliver sustained periods of relative outperformance to improve its three- and five-year numbers to win over consultants, investors and advisers," Macquarie says. It raises the stock's target price by 5% to A$8.40. Magellan is up 1.1% at A$9.59. (alice.uribe@wsj.com)

(END) Dow Jones Newswires

April 07, 2024 21:25 ET (01:25 GMT)

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For 4Q the investment bank forecasts A$0.6 billion of...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7062","symbol_name":"资产管理与托管银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2425606663","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2425606663","pubTimestamp":1712539500,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0125 GMT - Magellan's outflows continued to moderate during 3Q FY 2024 but investment performance remains mixed, say Macquarie analysts in a note. For 4Q the investment bank forecasts A$0.6 billion of retail outflows, with institutional outflows flat. For 3Q, retail outflows were A$0.5 billion. On performance, Macquarie says relative investment performance has been less volatile in recent periods, but the Global and Infrastructure funds remain below benchmarks. \"Magellan needs to deliver sustained periods of relative outperformance to improve its three- and five-year numbers to win over consultants, investors and advisers,\" Macquarie says. It raises the stock's target price by 5% to A$8.40. Magellan is up 1.1% at A$9.59. 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