Profit Briefs: SCP, DHG, MFG
With peak reporting season upon us, here are snippets from the results announced yesterday by Shopping Centres Australasia, Domain Holdings, and Magellan Financial Group.
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Magellan Financial Group Limited
Magellan was formed in 2006 to generate attractive returns for clients by investing in global equities and global listed infrastructure while protecting their capital.
Since then, we have developed a track record for creating and safeguarding wealth for our investors. We have done this by investing in high-quality global stocks that benefited from the rise of the emerging consumer, the coming of the cashless society, the recovery in US housing, the dominance of business software giants and the arrival of digital consumer platforms, to name just some key themes of the past decade. We know that over the next decade different themes will prevail. When investing the key question we ask ourselves is: “What does the future look like?”
Our team of 34* highly qualified and experienced investment professionals manages more than A$97 billion* in global equity and infrastructure strategies for clients based around the world. Our team has received multiple industry awards and is a highly rated fund manager of global equities and global listed infrastructure, in Australia and overseas.
To help meet the needs of our clients, we recently developed sustainable strategies and pioneered a paperless way to invest in active global equities on the ASX. You can do this via our global equities and global infrastructure active exchange-traded funds (Active ETFs).
Magellan was founded in 2006 by Hamish Douglass and Chris Mackay and has offices in Australia, New Zealand and the US. We are a wholly owned subsidiary of Magellan Financial Group, which is one of the top-100 stocks by market value on the ASX.
*As at 31 December 2019.
Spotlight Videos
Magellan Launches ASX Listed High Conviction Listed Investment Trust
Magellan Financial Group announced this week that it will launch a listed investment trust for its successful 'high conviction' strategy. Chris Wheldon, Portfolio Manager of the High Conviction Fund and an Assistant Portfolio Manager on the Global Equities Strategies sat down to tell us more.
WATCH VIDEOAll Magellan Financial Group Limited Content
News
Barrenjoey Capital Lures Magellan Financial
Magellan Financial intends to diversify its options with an investment in Barrenjoey Capital Partners, although the near-term returns are expected to be minimal.
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Magellan Financial Targets Low-Cost Demand
Magellan Financial has introduced several new investment strategies designed to keep fund flow happening over the medium term.
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Magellan Launches ASX Listed High Conviction Listed Investment Trust
Magellan Financial Group announced this week that it will launch a listed investment trust for its successful 'high conviction' strategy. Chris Wheldon, Portfolio Manager of the High Conviction Fund and an Assistant Portfolio Manager on the Global Equities Strategies sat down to tell us more.
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Magellan Bucks Shift To Passive Investment
Argo Investments 2018-19 results were similar to many of its rivals in the Listed Investment Company (LIC) space, or those more traditional with big holdings in old-line stocks like the big miners such as BHP and Rio Tinto and the spin-off of Coles from Wesfarmers late in 2018.
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Analyst Views
MFG – Credit Suisse rates the stock as Neutral
Before changing its Neutral rating for Magellan Financial, the broker would like to see a stabilisation of institutional flows and some outperformance by the Global Fund. The target price falls to $12.40 from $14.40.
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MFG – Morgans rates the stock as Hold
The target rises to $16.73 from $15.78. The analyst believes the risk reward balance is unfavourable and retains a Hold rating.
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MFG – Morgans rates the stock as Hold
Magellan Financial Group delivered a strong FY20 result that was in-line with expectations, according to Morgans.
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MFG – UBS rates the stock as Sell
FY19 net profit was well ahead of UBS estimates which purely reflected one-off unrealised asset gains. Otherwise, funds management profit was in line. Of more interest to the broker was the $270m equity raising announcement to fund future growth initiatives.
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MFG – Morgans rates the stock as Hold
The company ended June with $86.7bn in funds under management, up 24.7% over the financial year. Morgans expects an update on new products at the August results, such as the US sustainable and retirement income product, which are medium to longer term growth options.
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