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.
Magellan Financial Group (ASX:MFG) has seen its fair share of pressure on the share price. I think there are at least two reasons to keep holding Magellan.
The Magellan (ASX:MFG) share price has fallen after the fund manager announced its funds under management (FUM) for December 2019.
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The ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 1.42% on Friday.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently up 0.02% at lunch.
The ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 0.80% on Thursday.
The Magellan Financial Group Ltd (ASX:MFG) share price managed to rise 0.5% after making an announcement to the market.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently down 2.23% at lunch.
