Magellan FuturePay
A growing monthly income, now and into the future

Fund & performance

Invest in the world's best

Investment Objective

The primary objectives of the Fund are to provide investors with predictable, monthly distributions that grow with inflation, while reducing the risk of permanent capital loss.

 

FuturePay  is an innovative, new, listed, actively-managed fund which aims to deliver investors: a predictable monthly income that grows with inflation, driven by returns and capital growth, with a focus on downside protection. This is underpinned by a reserving strategy and on-going income support, together with daily access to capital.

Fund Facts

Portfolio manager
FuturePay Size*
A$10 million
Support Trust Size*
A$1.06 million
Chi-X Ticker
FPAY
Market Data Tickers
  Units
Bloomberg FPAY AU EQUITY
Refinitiv FPAY.CHA
IRESS FPAY.CXA
ICE iNav**
AUD $
Ticker details
  Indicative NAV
Bloomberg FPAYIV Index
Refinitiv FPAYAUiv.P
IRESS FPAY-AUINAV
Solactive iNav
AUD $
Ticker details
  Indicative NAV 
Bloomberg FPAYAUIV Index
Refinitiv FPAYAUDINAV=SOLA
IRESS FPAYAUDINAV
More about iNAV
Index unit price
More information about iNav

The iNAV reflects the estimated NAV per Unit updated for portfolio stocks or equivalent securities that have live market prices during the Trading Day. The iNAV will not be updated for market-based movements such as movements in stock market indices. The iNAV will include the value of the Support Trust Rights.

Magellan has engaged ICE Data Indices, LLC and Solactive AG as iNAV calculation agents to independently calculate and disseminate an iNAV. Both iNAVs are freely available to investors. From time to time there may be differences between the two iNAVs as a result of different calculation methodologies or timing of the data.

Entry costs
Buy spread: 0.10%
Exit costs
Estimated mutualisation amount per unit
$ 0.39 17 Jun 2021
Sell spread: 0.10%†
(only applicable to investors who apply for units directly with the Fund)
Distribution Frequency
Monthly
Target Monthly Income
2.03 cents per unit#
Current Income Yield^
4.15% p.a. 17 Jun 2021
APIR Code
MGE9989AU
ARSN
645 515 082
Management fee
1.00% p.a. of FuturePay's portfolio value
Performance Fee
There is no performance fee

All management costs described above are inclusive of the estimated net effect of GST.

* As at 2 June 2021

** iNAV calculations as shown on www.magellangroup.com.au (the "data") provided by ICE Data Indices, see ICE Terms of Use, and is updated during ASX trading hours. Powered by Factset. iNAV is indicative and for reference purposes only. The Fund is not sponsored, endorsed, sold or marketed by ICE Data Indices, LLC, its affiliates ("ICE Data") and ICE Data or its respective third party suppliers MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE iNAV, IOPV, FUND OR ANY FUND DATA INCLUDED THEREIN.  IN NO EVENT SHALL ICE DATA HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, DIRECT, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. You acknowledge that the data is provided for information only and should not be relied upon for any purpose.

 Sell spread is applied to the NAV per Unit less the Mutualisation Amount

# as at 2 June 2021, growing at inflation quarterly

^ Income Yield is calculated daily: Target Monthly Income x 12 / estimated NAV per Unit

Meet the FuturePay Portfolio Manager

Paddy McCrudden

Paddy McCrudden

Head of Retirement Solutions and Data Science at Magellan Financial Group

Paddy McCrudden joined Magellan in 2017 as the Head of Retirement Solutions and Data Science. Before that, Paddy worked for 16 years at BlackRock. From 2015 to 2017, Paddy was based in New York where he led a team building quantitative models for global equities and worked as a lead strategist for active equities.

Between 2010 and 2015, Paddy was the head of portfolio management for Australian equities based in Sydney, overseeing index, active and long-short funds. Between 2001 and 2010, Paddy was a portfolio manager and trader in a team responsible for multi-asset portfolios.

Prior to the finance industry, Paddy worked as a lecturer in pure mathematics at McGill University in Québec and Macquarie University in Sydney.

Paddy earned a CFA in 2005 and holds a Bachelor of Science (hons) from Sydney University and a Ph.D. in pure mathematics from Macquarie University.

Paddy McCrudden, Portfolio Manager of Magellan FuturePay, provides insight into how he developed the Fund and how it works in practice.

Watch the video >

Unit Prices

Date Net Asset Value Entry Exit Value of Support Trust Rights per Unit
17/06/2021 5.8698 5.8757 5.4733 0.3910
16/06/2021 5.8202 5.8260 5.4270 0.3877
15/06/2021 5.8523 5.8582 5.4569 0.3899
11/06/2021 5.8220 5.8278 5.4288 0.3878
10/06/2021 5.8061 5.8119 5.4140 0.3867
09/06/2021 5.7906 5.7964 5.3995 0.3856
08/06/2021 5.7676 5.7734 5.3781 0.3840
07/06/2021 5.7788 5.7846 5.3886 0.3848
04/06/2021 5.7750 5.7808 5.3851 0.3845
03/06/2021 5.7693 5.7751 5.3798 0.3841
02/06/2021 5.7583 5.7641 5.3689 0.3840
01/06/2021 5.7372 5.7429 5.3456 0.3862

Invest now

Magellan FuturePay (ticker FPAY) is available on the Chi-X securities exchange and can be bought and sold like any listed security. Investments can also be made directly with the fund itself.

Investors should read the Product Disclosure Statement (PDS) prior to making any investment decisions.

Invest now >

FAQs

FuturePay is quoted on the Chi-X securities exchange and can be bought and sold like any listed security. Alternatively investors can apply and redeem directly with Magellan. See 'How to Invest' for more information.

Chi-X Australia is an innovative Australian securities and derivatives exchange. Funds that are quoted on Chi-X can be bought and sold like any listed security via a stockbroker or online trading account.

When buying units on the securities exchange, there is no minimum initial investment. When applying directly with Magellan, the minimum initial investment is $10,000.

You can exit FuturePay either by making a withdrawal request to the Responsible Entity using a Withdrawal Form or by selling units on the Securities Exchange via your stockbroker or online broker. How you enter FuturePay does not affect the method by which you can exit FuturePay .

To make a withdrawal request with the Responsible Entity

If you have a Securityholder Reference Number (SRN) or Investor Number

You will need to make a withdrawal request to the Unit Registry.

If you have a Holder Identification Number (HIN) with your stockbroker or online broker

You will need to convert your holding from your HIN with your stockbroker or online broker to an SRN issued by the unit registry.

This is a standard process which your stockbroker or online broker can assist you with.

To sell your units on the Securities Exchange

If you have a Securityholder Reference Number (SRN) or Investor Number

You can provide your SRN to certain stockbrokers who can sell your units on your behalf. If your stockbroker does not offer this service, you will need to ask your stockbroker to convert or transfer your holding onto a HIN. This is a standard process which your stockbroker can assist you with. You can then instruct your stockbroker to sell your units on the Securities Exchange.

If you have a Holder Identification Number (HIN) with your stockbroker

You can instruct your stockbroker to sell your units on the Securities Exchange.

There are important differences between exiting FuturePay via the Securities Exchange or by withdrawing directly with the Responsible Entity, including the price you will receive. You should read the PDS or consult with your financial adviser before making any decision on how to invest in FuturePay .

Registry enquiries (Automic)

Automic Group

GPO Box 2629

Sydney NSW 2001

Emailmagellanfunds@automicgroup.com.au

Fax+61 2 8072 1409

Phone1300 408 792 (or +61 2 8072 1481)