Magellan Financial Group (ASX:MFG) reported total funds under management of AU$38.6 billion as of Dec. 31, 2024, down from AU$39.1 billion as of Nov. 30, 2024, according to a Wednesday filing with the Australian bourse.

In December 2024, the company experienced net outflows of AU$400 million, including AU$200 million in net retail and AU$200 million in net institutional outflows, according to the filing.

The company is entitled to an estimated performance fee of AU$6 million in the half-year ended Dec. 31, 2024, compared with AU$100,000 in the same period a year earlier, the filing said.

The company's shares were down almost 1% in recent Wednesday trade.