Magellan announces growth in FUM

Wednesday, November 7th 2012, 9:53AM

Boutique manager Magellan has announced a positive October result, with funds under management (FUM) reaching A$4,816 million.

It says retail FUM grew from A$2,185 million in the previous month to A$2,346 million.

Magellan, in its annual report, that it was in "a strong financial position with an extremely strong balance sheet."

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