Magellan Launches ASX Listed High Conviction Listed Investment Trust

By Tim McGowen | More Articles by Tim McGowen

 

 

Priority Offer

  • Investors in Magellan Financial Group (ASX: MFG), Magellan Global Trust (ASX: MGG) and Magellan High Conviction Fund as at 12 August 2019
  • Entitled to subscribe up to $50,000 in Units in Magellan High Conviction Trust
  • May be eligible to receive Loyalty Units of 7.5% of allotment under Priority Offer (subject to vesting and other conditions outlined in PDS)

Distribution Reinvestment Plan

  • Investors able to reinvest distributions at 5% discount to NAV
  • Cost of discount paid in full by Magellan

Summary

  • 8-12 best investment ideas
  • Strategy has delivered 16.2% per annum net of fees since inception
  • Target Cash Distribution of 3% per annum, paid semi-annually
  • Priority Offer: 7.5% additional units
  • General Public Offer: 2.5% additional units
  • Eligible Priority Applicants will receive Priority Invitation from Magellan once the offer has opened

Chris Wheldon is a Portfolio Manager of Magellan High Conviction Fund and an Assistant Portfolio Manager on the global equities strategies.

Tim McGowen

About Tim McGowen

Tim McGowen is the co-founder of informedinvestor.com.au. He was previously the founder of Fortitude Capital the Hedge fund of the Year in 2008 & 2009. More recently he was a global Portfolio Manager for PM Capital.

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