Magellan Financial Group Complaints

Magellan Financial Group (MFG) has seen a substantial decline in funds under management (FUM) and recent management changes, leading to investor concerns. Financial Dispute Legal invites current and previous clients to share their experiences with us.

The Magellan Financial Group (MFG) reports that funds under management (FUM) have fallen by $8.1 billion in a fortnight. From February 25 to March 11, the company says its FUM dropped from $77.2 billion to $69.1 billion. This is despite reporting an increase in net profit and a dividend on February 18.

These changes are in the wake of significant management changes. Most notably, the February 2022 announcement that co-founder and fund manager Hamish Douglass would step aside from his investment duties, citing unspecified medical reasons, leaving the board entirely one month later.

Its management changes, coupled with outflows of roughly $5 billion, have triggered a rapid decline in share price, which is now trading at around 75% of what it was in July 2021.

Financial Dispute Legal is interested in hearing from investors of Magellan Financial Group.

If you are a current or previous client of the Magellan Financial group and would like to discuss your experiences with us, you can contact us online, call us at 1300 433 533 or email us at enquiry@fdlegal.com.au.

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