Why is the Magellan (ASX:MFG) share price up 4% today?

The Magellan Financial Group Ltd (ASX: MFG) share price is having a very nice day today. At the time of writing, Magellan shares are up 4.27% to $47.35 a share. That’s a significant outperformance of the broader S&P/ASX 200 Index (ASX: XJO) which is only managing a 0.68% rise…