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.
All management costs described above are inclusive of the estimated net effect of GST.
* As at 2 June 2021
† 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
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.
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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.