Why the Magellan Financial Group Ltd share price is inching upwards

Credit: Flazingo Photos

Magellan Financial Group Ltd (ASX: MFG) entered reporting season up 0.7% to $27.74, as its upward trend continues from late 2017.

Magellan is a funds management group based in Sydney handling four investment funds targeted at high net-worth and retail investors across the country. It also runs institutional money across multiple funds.

The share price has been on a steady incline since a drop down to $23 in September 2017 after the specialised funds manager bled close to $300 million in net retail outflows from its Global Equities strategies.

But Magellan has maintained its crawl upwards ever since and will announce its results for the six months to December 2017 on February 6, with robust outcomes expected.

Magellan will need to continue on its current trajectory if it’s looking to snag investors on the hunt for high-quality asset managers who previously preferred Macquarie Group Ltd (ASX: MQG).

OUR #1 dividend pick to grow your wealth over the new financial year is revealed for FREE here!

Financial year 2018 is here and The Motley Fool’s dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.