Magellan Financial Group (MFG) AGM 2025 summary

Opening remarks and agenda

• AGM opened with acknowledgment of traditional land owners, meeting logistics, and agenda overview by Chairman Andrew Formica and CEO Sophia Rahmani.

• Agenda included financial statements, remuneration report, director reelection, equity grants, and auditor appointment.

Financial performance review

• Operating profit for FY2025 rose to AUD 159.7 million, up 5.4%, with operating EPS at 89.8c, up 7.3%.

• Assets under management grew 8.2% to AUD 39.6 billion by June and 1.5% to AUD 40.2 billion by September 2025.

• Investment management revenue was AUD 245.7 million, down 12% YoY, while strategic partnership income rose 202% to AUD 31.1 million.

• AUD 202.1 million returned to shareholders via dividends and buybacks, up 64% on FY24; full year dividends increased 12.6% to AUD 0.733/share.

• Liquid capital stood at AUD 563 million with no debt.

Board and executive committee updates

• Sophia Rahmani appointed CEO and Managing Director, with new executives in CFO, COO, and CRO roles; leadership transition completed in March 2025.

• Andrew Formica became Non-Executive Chairman; board renewal continued with Peeyush Gupta as independent Non-Executive Director from November 2025.

• Board composition features majority independent directors and 50:50 gender diversity.

• Non-Executive Directors to step off subsidiary board, reducing total director fees for 2026 and beyond.

• Sam Moss to become Company Secretary from November 2025.