Magellan Financial Group is an Australian investment manager focusing on global equities and global listed infrastructure.
MFG funds are available to retail and institutional clients in both Australian Securities Exchange-listed and unlisted forms. As of 31 January 2025, institutional clients held A$23.1 billion of assets under management, composing 59% of total.[2]
History
MFG was co-founded in 2006 by Hamish Douglass and Chris Mackay off the back of careers in investment banking. The MFG entity was established through a complex recapitalisation deal where an existing listed vehicle—the underperforming Pengana HedgeFunds Group—was taken control of and renamed,[3] severing formal ties with the previous entity.[4][5] Pengana had been founded in 2003 by Malcolm Turnbull, who was later to become Australian prime minister, and a merchant banking colleague, Russell Pillemar.