BUZZ-Morningstar trims PT on Australia's Magellan Financial following executive's exit

Reuters

2025/02/04

** Analysts at Morningstar see higher redemptions for Australian fund manager Magellan Financial Group MFG.AX following a key executive's departure

** Investment research platform cuts stock PT to A$8.90 from A$10.20; MFG closed at A$9.49 on Monday

** Magellan last week said that its head of investments, Gerald Stack, would step down in July after having been with the company for 18 years

** "Stack's departure raises the risk of redemptions, given it could take time for investors to gain confidence in the new team" - Morningstar

** Morningstar anticipates A$8 bln ($4.95 bln) in one-off redemptions in fiscal 2025-26, reflecting about 22% of MFG's total funds under management

** Stock down 14.7% this year, as of the last close

($1 = 1.6163 Australian dollars)

(Reporting by Aaditya Govind Rao in Bengaluru)

((Aaditya.govindrao@thomsonreuters.com;))

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MFG closed at A$9.49 on Monday</p><p>** Magellan <span>last week said</span> that its head of investments, Gerald Stack, <span>would</span> step down in July <span>after having been with the company for 18 years</span></p><p>** \"Stack's departure raises the risk of redemptions, given it could take time for investors to gain confidence in the new team\" - Morningstar</p><p>** Morningstar anticipates A$8 bln ($4.95 bln) in one-off redemptions in fiscal 2025-26, reflecting about 22% of MFG's total funds under management</p><p>** Stock down 14.7% this year, as of the last close</p><p>($1 = 1.6163 Australian dollars)</p><p> (Reporting by Aaditya Govind Rao in Bengaluru)</p><p> ((Aaditya.govindrao@thomsonreuters.com;))</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MFG.AU","symbol_name":"MAGELLAN FINANCIAL GROUP LTD","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250203:nL4N3OU1JM:1","article_id":"2508319120","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2508319120","pubTimestamp":1738615040,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Morningstar trims PT on Australia's Magellan Financial following executive's exit** Analysts at Morningstar see higher redemptions for Australian fund manager Magellan Financial Group MFG.AX following a key executive's departure ** Investment research platform cuts stock PT to A$8.90 from A$10.20; MFG closed at A$9.49 on Monday** Magellan last week said that its head of investments, Gerald Stack, would step down in July after having been with the company for 18 years** \"Stack's departure raises the risk of redemptions, given it could take time for investors to gain confidence in the new team\" - Morningstar** Morningstar anticipates A$8 bln  in one-off redemptions in fiscal 2025-26, reflecting about 22% of MFG's total funds under management** Stock down 14.7% this year, as of the last close  ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MFG.AU":"MAGELLAN FINANCIAL GROUP LTD","BK7062":"资产管理与托管银行"},"translate_title":"BUZZ-晨星公司在高管退出后削减了澳大利亚麦哲伦金融公司的PT","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MFG.AU":0.9},"content_text":"BUZZ-Morningstar trims PT on Australia's Magellan Financial following executive's exit** Analysts at Morningstar see higher redemptions for Australian fund manager Magellan Financial Group MFG.AX following a key executive's departure ** Investment research platform cuts stock PT to A$8.90 from A$10.20; MFG closed at A$9.49 on Monday** Magellan last week said that its head of investments, Gerald Stack, would step down in July after having been with the company for 18 years** \"Stack's departure raises the risk of redemptions, given it could take time for investors to gain confidence in the new team\" - Morningstar** Morningstar anticipates A$8 bln ($4.95 bln) in one-off redemptions in fiscal 2025-26, reflecting about 22% of MFG's total funds under management** Stock down 14.7% this year, as of the last close($1 = 1.6163 Australian dollars) (Reporting by Aaditya Govind Rao in Bengaluru) ((Aaditya.govindrao@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}