Magellan Financial Group
Full Year 2021 Results Centre
Welcome to our new Results Centre which brings together our Annual Report and key Full Year results documentation, along with recent business and investing insights from what has certainly been an unpredictable year.
Letter from the CEO
Brett Cairns, Magellan Financial Group CEO
I am delighted to present Magellan Financial Group’s full year results for the year ended 30 June 2021. In my CEO letter, I discuss the financial results in detail, how the business is positioned and the initiatives completed throughout the year. The 2021 financial year has been a very busy and productive one for Magellan with the completion of a number of important initiatives that we believe will add meaningfully to Magellan’s value, diversity and resilience over time.
Our funds management business continues to perform strongly. During the period Magellan saw a 9% growth in average funds under management to $103.7 billion. Profit before tax and performance fees of our funds management business increased 10% to $526.6 million, reflecting the increase in average funds under management and cost efficiencies.
We were also very pleased to launch a number of new funds and strategic initiatives during the period. These include the MFG Core Series, Magellan Sustainable Fund and Magellan FuturePay, all of which we believe uniquely address a market need and are well positioned for the future.
Full Year Results for the year ended 30 June 2021
| MFG Annual Report 2021 | MFG - FY21 results - ASX Media Announcement | ASX covering letter and Appendix 4E |
| MFG MFG Corporate Governance Statement | MFG Dividend Reinvestment Plan Rules |
Global Equities
Hamish Douglass and Ticky Fullerton Interview
Hamish Douglass, Chairman and Chief Investment Officer, spoke with Ticky Fullerton, Editor-At-Large, The Australian Business Review, about his recent performance and addressed questions around the current market environment from inflationary pressures and asset bubbles, to cryptos and big tech regulation.
In Conversation with Michael Morell
When they last caught up, Trump was in the White House and the world had not yet begun to understand the devastating effect that Covid-19 would eventually have. Now, from opposite sides of the world, Hamish Douglass chats again with Washington-based Michael Morrell, former Deputy Director of the CIA. Together they unpack the current political tensions at play between the US and China, how likely a Taiwan vs China war scenario may be, and how and why cyber warfare is on the rise, aided by Russia.
Remaining rational in a tide of geo-political risk
Hamish Douglass is joined by Michael Morrell, former Deputy Director of the CIA, and Ticky Fullerton, the Australian Newspaper’s Business Editor at Large, who hosts this month’s discussion on how to approach investing in China during these times of heightened geo-political tensions. Can the US rely on its allies as tensions increase? Could there be extended bans on US nationals investing in China by the Biden administration? Also under discussion, cybercrime and crypto-currency; the regulation of big tech in the US and what keeps them up at night.
Global Listed Infrastructure
Infrastructure and Decarbonisation
Gerald Stack, Magellan’s Head of Investments and Head of Infrastructure, explains why regulated electricity utilities are beneficiaries of the shift to renewables because the energy transition presents meaningful opportunities.
Retirement Solutions
Investing in Retirement
Paddy McCrudden, Magellan’s Head of Retirement Solutions and Data Science, explains the challenges facing retiree investors. They have three reasonable goals: they want a decent income that keeps up with inflation, capital growth and ready access to their savings. The problem is the goals are in conflict.
Magellan Minutes Series 3
Welcome to series 3 of Magellan Minutes, our investment insights initiative, in which senior members of our investment team dissect the markets and take a deeper look into the sectors and stocks that make up our global and infrastructure portfolios. This series is designed to provide you with concise, relevant and digestible talking points on global markets, each in around 10 minutes.