Magellan Bear Sees Significant Outflow Risk -- Market Talk

Dow Jones

05/07

0146 GMT - Magellan Financial's bear at Macquarie warns that a shift in how its global equity funds are managed exposes them to significant risk of outflows in the near term. A note from one of the investment bank's analysts observes that the funds are pivoting from actively managed, concentrated portfolios to a quant-based strategy. Looking at the immediate financial impact, the analyst sees a 11% headwind to fiscal 2027 EPS as management fees are cut and performance fees ended. There is further downside risk, they add in the note. Macquarie cuts its target price on the stock 10% to A$7.65 and maintains an underperform rating. Shares are up 2.6% at A$9.00. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 06, 2026 21:46 ET (01:46 GMT)

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A note from one of the investment bank's analysts observes that the funds are pivoting from actively managed, concentrated portfolios to a quant-based strategy. Looking at the immediate financial impact, the analyst sees a 11% headwind to fiscal 2027 EPS as management fees are cut and performance fees ended. There is further downside risk, they add in the note. Macquarie cuts its target price on the stock 10% to A$7.65 and maintains an underperform rating. Shares are up 2.6% at A$9.00. 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