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Magellan Financial Group Announces Regarding Launch of Magellan High Conviction Trust

13 Aug 2019  |  09:36:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Launch of Magellan High Conviction Trust

Magellan Financial Group announced that its main operating subsidiary, Magellan Asset Management (Magellan), intends to undertake an initial public offering (Offer) for ordinary units in a new ASX-listed investment trust, the Magellan High Conviction Trust. The Magellan High Conviction Trust will invest in a concentrated portfolio of high-quality global companies, weighted towards Magellan's best ideas and will aim to deliver investors a Target Cash Distribution of 3% p.a. The investment strategy of the Magellan High Conviction Trust will replicate the investment strategy of the unlisted Magellan High Conviction Fund which has returned 16.6% p.a. net of fees since inception on 1 July 2013 to 31 July 2019.

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