Our Funds

Global Equities strategy

Magellan’s Global Equities strategy offers investors the opportunity to invest in a specialised and focused global equity portfolio. The Global Equities strategy’s investment objective is to achieve attractive risk-adjusted returns over the medium to long term while reducing the risk of permanent capital loss. The strategy aims to deliver 9% p.a net of fees over the economic cycle. To achieve this, Magellan undertakes rigorous company research to identify what it assesses to be high-quality companies with enduring competitive advantages. This, combined with an assessment of the macroeconomic environment and a disciplined risk-controlled approach to portfolio construction, results in a focused portfolio of high-quality global equity stocks.

The Global Equities strategy is available in listed and unlisted form and where foreign currency exposures are hedged, unhedged or at the discretion of the manager.
 

⁺ The Responsible Entity has the discretion to distribute an amount higher than the Target Cash Distribution (please refer to the relevant product disclosure statement for more information).

* 10.0% of excess return over the higher of the Index Relative Hurdle (MSCI World Net Total Return Index (AUD)) and the Absolute Return Hurdle (the yield of a 10-year Australian Government Bonds). Additionally, the Performance Fees are subject to a high water mark.

**Magellan High Conviction Fund Class A: 10% of the excess return of the units of the Fund above the Absolute Return performance hurdle (10% per annum). Magellan High Conviction Fund Class B: 20% of the excess return of Class B Units above the Absolute Return performance hurdle (10% per annum). The performance fee for Class B Units is subject to a cap of 2.22% per annum. Performance fees are subject to a high-water mark.

***Magellan High Conviction Trust: 10% of the excess return of the Trust above the Absolute Return performance hurdle (10% per annum). Additionally, the Performance Fees are subject to a high water mark.

^ While retaining the flexibility to reduce the impact of foreign currency exposures associated with identified event risks, the Fund / Trust will otherwise adopt an unhedged approach to foreign currency exposures arising from portfolio investments in foreign markets.

Global Infrastructure strategy

Magellan’s Global Infrastructure strategy offers investors the opportunity to invest in a specialised and focused global listed infrastructure portfolio the aim of which is to achieve attractive risk-adjusted returns over the medium to long term while reducing the risk of permanent capital loss.

Magellan believes that infrastructure assets, with requisite earnings reliability and a linkage of earnings to inflation, offer an attractive, long-term investment proposition. Magellan has established a proprietary classification criteria to define infrastructure which seeks to identify outstanding companies that exhibit reliable demand and stable cash flow generation.  Importantly, these criteria exclude companies where Magellan has assessed their earnings to have material direct exposure to commodity prices, competitive pressure or sovereign risk. We believe applying a disciplined, clearly defined set of parameters to capture the desired characteristics of infrastructure provides a solid framework for generating attractive, stable returns over the long term.

The Global Infrastructure strategy is available in listed and unlisted form and where foreign currency exposures are hedged or unhedged.

* Management fees are inclusive of the estimated net effect of GST.

** 10.0% of the excess return of the Units of the Fund above the higher of the Index Relative Hurdle (S&P Global Infrastructure Index A$ Hedged Net Total Return) and the Absolute Return Hurdle (the yield of 10-year Australian Government Bonds). Additionally, the Performance Fees are subject to a high water mark.