Magellan Financial Group (ASX:MFG) total assets under management (AUM) rose to AU$39.3 billion in May from AU$38.5 billion in April, according to a Thursday filing with the Australian bourse.

Retail AUM inched up to AU$16.7 billion from AU$15.2 billion, while institutional AUM rose to AU$22.6 billion from AU$22.3 billion, the filing said.

Magellan Financial posted net outflows of AU$400 million, which included net retail outflows of AU$200 million and net institutional outflows of AU$200 million.