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Magellan Global Trust

Fund Manager: Magellan
Inception Date: Oct 18, 2017

This is a guest post from Steve Green. Steve is a full-time investor with a focus on LICs, event-driven and activist investing. You can follow some of his ideas at his investment blog at Author’s note: In compiling this article I have used data as at 25th April, 2018. Recently I was checking out Morphic Ethical Equities Fund (MEC) and observed how fickle the premium / discount to NTA can behave. It is almost one year since listing and this type of pat ... [More]

Magellan Global Trust raises $1.55bn

Investor Daily - Oct 09, 2017

The Magellan Global Trust IPO has closed after raising $1.55 billion from new and existing investors. The estimated cost of the offer, which will be paid for by Magellan, is approximately $84 million before tax and net of recoverable GST. Units offered under the priority offer are expected to be allotted on Thursday, 12 October 2017, and units offered under the broker firm and general public offers will be allotted the next day. [More]

Hamish Douglass has doubled down on his growth push and says the two biggest opportunities Magellan has in front of it are its low-carbon funds and the chance to crack the "self-directed" retail investor market. The fund manager and chief executive also challenges the suggestion that the $50 billion Magellan is a mature business because it is still willing to take risks. "If we didn't do anything and operate like other people, yes we would be," he says, but the company's investment in marketing and its ASX-listed product platform was evidence of its vigilance against complacency.   [More]

The Magellan Global Trust (MGG) IPO is now open through OnMarket Bookbuilds. If you are interested in applying for shares in the IPO you can do so here. OnMarket Bookbuilds are currently offering the chance to win $2,000 to invest in any IPO for new members. You'd have to be living under a rock to have not heard about fund manager giant, Magellan's latest offering, Magellan Global Trust (MGG), seeking to raise as much as they can. A generous offer to existing Magellan f ... [More]

Anything less than $1 billion in funds raised will be regarded as a failure for Magellan's forthcoming listed investment trust. While it would still be one of the biggest trusts or listed investment companies in the market, at Magellan, one of the real successes in Australian funds management, everything is bigger. The Magellan Global Trust, which is accepting applications, has not had a target attached to it. But Magellan chief executive Hamish Douglass has alluded to $1 billion being the level at which a fund can have comfortable scale. [More]

An unprecedented move by Magellan Financial Group to introduce a mandatory dividend reinvestment program has caught investors by surprise as the countdown for what may be the biggest ASX float in years — the $1 billion-plus listing of the Magellan Global Trust — accelerates. Under the terms of the float now being circulated in the market, once cash distributions exceed 4 per cent all extra distribution income received by investors is to be mandated into the trust’s DRP scheme. Separately, investor funds going into the DRP on this mandated basis will not qualify for the DRP discount, which is set at 5 per cent. [More]

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