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Magellan Financial Group is hopeful new managing director Sophia Rahmani will help steady the ship, as it sharpens its focus on the US and reports a 24% increase in statutory net profit after tax despite plummeting funds under management. ....
Magellan Financial lost $2 billion in outflows during September as a tough global market for equities heaps more pain on the already embattled fund manager. ....
The Chinese economy may be a downside risk but investors should not expect it to impact heavily on global growth, according to Magellan Global fund manager, Arvid Streimann. ....
Three Magellan ETFs have seen the largest assets under management decline in the past year, according to Stockspot, with one losing more than $2.4 billion. ....