Magellan Financial Group Ltd (ASX:MFG) is a funds management business that largely invests in international shares like Facebook and Visa. It was set up in 2006 by Hamish Douglass and Chris Mackay. Since inception, Magellan claims it has been one of the most consistent market outperformers after fees.
Here are the news headlines from the S&P/ASX 200 (INDEXASX:XJO)(ASX:XJO) and Australian finance circles on Thursday morning.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently down 0.97% at lunch.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently down 0.12% at lunch.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently up 0.26% at lunch.
Magellan Financial Group Ltd (ASX:MFG) will be watched closely by investors today after the fund management business reported its financial results for the year ended 30 June 2018.
Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is currently down 0.21% at lunch.
Magellan Financial Group Ltd’s (ASX: MFG) CEO, Hamish Douglass, has predicted there’s a possibility that the global share market could see a 30% fall in the next 12 to 18 months.
Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is currently up 0.21% at lunch.
Magellan Financial Group Ltd (ASX:MFG) shares are up 1.5% after reporting that its funds under management (FUM) rose by $2 billion to $69.5 billion.
