Magellan Financial Group reports FY26 results and plans rebrand to Barrenjoey
AI Market Summary
Magellan Financial Group reported FY26 pro forma revenue of $778m and net profit after tax of $146m, but the core MFG entity saw net profit fall 47% and AUM decline 7% on continued global equities fund outflows. Partnership income from Barrenjoey partially offset weaker investment management revenue. The planned rebrand to Barrenjoey Group and broader business mix modestly improves diversification but is not systemically market-moving.
Impact level
● Low
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● Neutral
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Magellan Financial Group reported FY26 pro forma group revenue of $778 million and net profit after tax of $146 million, while MFG’s net profit after tax fell 47% to $88 million. The group declared a fully franked final dividend of 25.5 cents per share. Total assets under management declined 7% year on year to $36.7 billion, driven mainly by ongoing outflows from heritage Global Equities funds. The company said it intends to rename itself Barrenjoey Group Limited, subject to shareholder approval.
