Magellan Financial Group acquires a 29.5% stake in $22B Vinva, plans global distribution and growth.

Magellan Financial Group acquired a 29.5% stake in $22 billion quantitative equity fund Vinva, founded by Morry Waked in 2010. This partnership aims to help Vinva double in size, and Magellan plans to distribute Vinva's products globally. Magellan reported a 31% increase in statutory net profit after tax (NPAT) for FY24, reaching $238.8 million, and a 2% increase in adjusted net profit after tax (NPAT) to $177.9 million in its full-year results, with a 31% growth in statutory NPAT to $238.8 million. The firm has restored stability and positioned itself for future growth, with plans to invest in the US market.

August 15, 2024
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