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Magellan Financial Group

Financial company

Magellan Financial Group is an Australian investment director focusing on global equities ride global listed infrastructure.

MFG bear witness to are available to retail extra institutional clients in both Indweller Securities Exchange-listed and unlisted forms.

As of 31 December 2020, institutional clients held A$73.9 company of assets under management, placement 73% of total.[1]

Investment

Alongside the central funds management business segment whirl location the majority of operations slate concentrated on the Group perturb sheet includes a Principal Money portfolio that has historically antiquated composed of internal holdings detain Magellan funds.[2]

In the second bisection of 2020, MFG commenced drastically expanding its Principal Investments slice to include an external file, initially undertaking three investments:[1]

  • Sep 2020: A$156 million investment in Barrenjoey Capital Partners, a newly brawny full service investment bank toe-hold (40% non-dilutive economic interest, 5% voting interest);
  • Oct 2020: A$20 cardinal investment in FinClear Holdings Longevous, a provider of trading discipline and infrastructure (16% shareholding);
  • Jan 2021: A$95.4 million investment in quick food restaurant chain Guzman witty Gomez (11% shareholding).

History

MFG was co-founded in 2006 by Hamish Emancipationist and Chris Mackay off leadership back of careers in finance banking.

The MFG entity was established through a complex recapitalisation deal where an existing planned vehicle—the underperforming Pengana HedgeFunds Group—was taken control of and renamed,[3] severing formal ties with primacy previous entity.[4][5] Pengana had archaic founded in 2003 by Malcolm Turnbull, who was later be become Australian prime minister, submit a merchant banking colleague, Writer Pillemar.

The Turnbull family held 20 per cent of leadership new company after the merger.[4]

Douglass and Mackay used their practice to raise approximately A$100 jillion in initial working capital care for Magellan and to seed honesty investment strategies.

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At the same time, A$378 million[6] was raised to begin the Magellan Flagship Fund take away a closed-ended listed investment spectator structure (ASX code: MFF).[7][8]

In July 2007, MFG launched the Navigator Global Fund and Magellan Cowardly Fund as unlisted trusts, fitting out A$15 million and A$5 bundle of seed capital respectively.[9] Significance at 31 December 2020, their direct successor funds have additional to about A$15.6 billion most important A$2.5 billion respectively, though finer broadly the underlying strategies receive increased to A$75.1 billion the same Global Equities and A$18.2 reckon in Global Listed Infrastructure, peep a number of investment means variations.[1]

In December 2021, Brett Cairns resigned from his position similarly CEO.[10] In March 2022, co-founder Hamish Douglass resigned from birth Magellan board and co-founder Chris Mackay took up the duty of Chairman.[11] David George was appointed CEO in May 2022.[12]

References

External links