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Magellan Financial Group (MFG) investor relations material
Magellan Financial Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Operating EPS rose 5% year-over-year to 48.6c per share, with a fully franked interim dividend up 50% to 39.5c and an 80% payout ratio.
Operating profit was stable at $83.1m, supported by a strong balance sheet and $504m in liquid capital with no debt.
Strategic partnership income more than doubled to $25.7m, offsetting a 17% decline in investment management revenue.
Assets under management (AUM) increased 3% year-over-year to $39.9b, with institutional inflows offsetting retail outflows.
Completed a brand refresh, unified global distribution, and enhanced governance with new board appointments.
Financial highlights
Operating profit after tax was $83.1m, flat year-over-year; statutory profit declined 27% to $68.9m due to non-operating fair value movements.
Investment management revenue fell 17% to $106.9m, mainly due to a 13% drop in average management fee rate and no performance fees.
Strategic partnership income surged 109% to $25.7m, with Barrenjoey and Vinva delivering strong results.
Fund investment income increased 14%, with distributions at elevated levels.
Dividend per share rose 50% to 39.5c, representing an 80% payout of group operating profit.
Outlook and guidance
Expense growth is expected to remain below inflation for the full year, with some increase in H2 due to technology investments.
Focus remains on operational efficiency, automation, AI, and leveraging the global distribution platform.
Fee margin stabilization is expected, with future rates driven by AUM composition.
Strategic partnerships and product diversification remain key priorities, with active review of new opportunities.
Ongoing review of capital allocation and business investment opportunities to sustain shareholder returns.
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