The result is a slight increase in FUM from $4,505 million at September 30 and $4,258 million at August 31.
The group also saw a boost in retail FUM, which reached $2,346 million at October 31 up from $2,185 the previous month.
Wholesale FUM reached $2,470 million in October, 59 per cent of which are beta style mandates and funds with lower fees than other Magellan products.
The October result followed steady annual growth for Magellan for the 12 months ended June 30 2012, which saw FUM grow slightly to $4,136.1 million from $4,005.7 in the previous financial year.
In its 2012 annual report, Magellan said that it was in "a strong financial position with an extremely strong balance sheet."
"This conservative balance sheet approach benefited the Group, particularly during the early stages of the fund management business in the extreme markets of the last five years, and we believe will benefit Magellan in the future", the report said.
The October result saw net inflows into the Magellan Global Fund/Colonial First State Magellan Global Option fund reach $169.5 million.
This is an increase from August 17 which saw the retail fund reach total FUM of $1,497.4 million and average monthly net inflows of $85.1 million over the three months to July 31 2012.
