Magellan Financial (MFG ASX) hands Global Fund strategies to Vinva, Magellan’s shares slump

Magellan Financial is reshaping its flagship global equities franchise ahead of its merger with investment bank Barrenjoey, in a major shift away from its roots as a stock picker and into a broader financial services provider.

The listed asset manager will hand management of its $5.3 billion flagship global equities funds to money manager Vinva, slashing fees and removing performance charges entirely.

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