Magellan Financial Group's (ASX:MFG) total funds under management (FUM) dropped to AU$38.6 billion in February from AU$39.1 billion in January, according to a Thursday filing with the Australian bourse.

Retail FUM fell to AU$15.7 billion from AU$16 billion, while institutional FUM declined to AU$22.9 billion from AU$23.1 billion, the filing said.

The company experienced net outflows of AU$500 million in February, comprising net retail outflows of AU$200 million and net institutional outflows of AU$300 million, per the filing.

Price (AUD): $8.10, Change: $-0.060, Percent Change: -0.74%