Magellan Explains: Single Unit Structure

Regardless of which pathway an investor chooses, they will be investing in the same fund. Think of it as a house with two doors.

You can enter via whichever door suits you and you can exit via the other door, all inside the same fund.  
If an investor comes in via an application form off market, we will give them a Security Holder Reference Number or SRN and if they come in on market via an online share trading platform or stockbroker, then the investment will be held on their Holder Identification Number or HIN. 
At any time, investors can switch between holding their investment on-market or off-market depending on their preference.


You will typically have a HIN if you bought your units on a Securities Exchange through a stockbroker. Funds can be listed on either of the two available securities exchanges, Australian Securities Exchange (ASX) or Cboe (Chi-X). You will typically have an SRN if you applied for units directly with the Responsible Entity.
A HIN is a Holder Identification Number issued by your stockbroker. It is a unique number used to link all your holdings, stocks, shares, and is not specific to Magellan. A HIN is 11 characters long and can be obtained via your broker. It starts with an ‘X’ followed by 10 digits. For example: X0001235898

An SRN is a Securityholder Reference Number issued by the Fund’s Unit Registry and is your unique identifier in the Fund. An SRN is 11 characters long and starts with an ‘I’ followed by 10 digits. Example: I00874500369. Your SRN will be stated on your first confirmation statement and partly masked for subsequent statements.

Think of it as a house with two doors. You can enter via whichever door suits you and you can exit via the other door, all inside the same fund.  


If you invest via a Securities Exchange there is no minimum initial and/or additional investment amount.
If you invest directly with the Responsible Entity by sending us an Application Form, the minimum initial investment is A$10,000 which is the same as all Magellan managed funds available for direct application. Additional investments can be made into an existing account at any time. No minimum applies for additional investments by BPAY. A minimum of $5,000 applies to all other payment methods.


Yes, if a distribution reinvestment plan (DRP) is offered you may choose to automatically reinvest your distribution as additional units in the Fund regardless of how you acquired your units. Further information will be made available on the Fund’s website at the time any DRP is offered.

Important Information: This material has been delivered to you by Magellan Asset Management Limited ABN 31 120 593 946 AFS Licence No. 304 301 (‘Magellan’) and has been prepared for general information purposes only and must not be construed as investment advice or as an investment recommendation.  This material does not take into account your investment objectives, financial situation or particular needs. This material does not constitute an offer or inducement to engage in an investment activity nor does it form part of any offer documentation, offer or invitation to purchase, sell or subscribe for interests in any type of investment product or service. You should obtain and consider the relevant Product Disclosure Statement (‘PDS’) and Target Market Determination (‘TMD’) and consider obtaining professional investment advice tailored to your specific circumstances before making a decision about whether to acquire, or continue to hold, the relevant financial product. A copy of the relevant PDS and TMD relating to a Magellan financial product may be obtained by calling +61 2 9235 4888 or by visiting

Past performance is not necessarily indicative of future results and no person guarantees the future performance of any financial product or service, the amount or timing of any return from it, that asset allocations will be met, that it will be able to implement its investment strategy or that its investment objectives will be achieved. This material may contain ‘forward-looking statements’. Actual events or results or the actual performance of a Magellan financial product or service may differ materially from those reflected or contemplated in such forward-looking statements.

This material may include data, research and other information from third party sources. Magellan makes no guarantee that such information is accurate, complete or timely and does not provide any warranties regarding results obtained from its use. This information is subject to change at any time and no person has any responsibility to update any of the information provided in this material.  Statements contained in this material that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of Magellan. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. No representation or warranty is made with respect to the accuracy or completeness of any of the information contained in this material. Magellan will not be responsible or liable for any losses arising from your use or reliance upon any part of the information contained in this material.

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