Magellan Global Fund (Open Class) (Managed Fund) (ASX:MGOC)
The Magellan Global Fund seeks to invest in outstanding companies at attractive prices, while exercising a deep understanding of the macroeconomic environment to manage investment risk.
The Magellan Global Fund seeks to invest in outstanding companies at attractive prices while exercising a deep understanding of the macroeconomic environment to manage investment risk.
The fund will hold a relatively concentrated portfolio of 20-40 high-quality securities constructed with strict risk discipline and macroeconomic insight seeking to achieve strong risk-adjusted, not benchmark-relative returns. Typical cash and cash equivalents exposure between 0 - 20%.
Read the Product Disclosure Statement prior to making any investment decisions.
Important Documents
Target Market Determination (TMD)
Financial Services Guide (FSG)
1. Invest through the ASX
Check the MGOC current share price and buy on the ASX.
2. Invest directly with the fund
Complete the PDF Application Form
You can complete the PDF form digitally, or print and complete manually. You will be guided by the Application Form if you also need to complete and CRS forms
Send application form to Apex Group
Apex Fund Services - Unit Registry
GPO Box 143
Sydney NSW 2001
Or via email to magellanfunds@apexgroup.com
Speak with your adviser/broker. To find an adviser, visit Financial Advice Association Australia.
To achieve attractive risk-adjusted returns over the medium to long term; while minimising the risk of permanent capital loss.
Invest in the world's best:
An investment in the Fund may suit investors who are seeking medium to long-term investment exposure to international equities.
The Fund primarily invests in the securities of companies listed on stock exchanges around the world but will also have some exposure to cash and cash equivalents. The Fund can use foreign exchange contracts to facilitate the settlement of stock purchases. It is not the Responsible Entity’s intention to hedge the foreign currency exposure of the Fund arising from investments in overseas markets.
Magellan undertakes rigorous company research to identify what it assesses to be high-quality companies with enduring competitive advantages. This, combined with an assessment of the macroeconomic environment and a disciplined risk-controlled approach to portfolio construction, results in a focused portfolio of high-quality global equity stocks.
The Magellan Global Fund's investment process integrates three key disciplines:
Intensive bottom-up stock analysis and industry research is undertaken in order to identify outstanding companies. This involves the assessment of potential investments against key quality criteria, as well as assessments of their intrinsic value. Magellan uses a proprietary ranking tool, the Magellan Conviction Scoring Matrix, to rank these companies based on these factors. This process enables the portfolio to be weighted towards higher conviction ideas (on a risk-adjusted basis).
Magellan's detailed macroeconomic analysis is overlayed during portfolio construction, alongside the application of both fixed and dynamic risk limits. This process ensures that the portfolio is not overly exposed to aggregation risk (risk which arises from correlated portfolio positions) or macroeconomic event risk. Macroeconomic event risk can be a significant source of negative returns for investors. Magellan will look to make adjustments to the portfolio if it believes that macroeconomic events could lead to a significant and sustained loss in value for investors. Such events would include a financial crisis, a sustained oil price shock, a global pandemic or a major global conflict.
The Fund’s assets are typically invested within the following asset allocation ranges:
| Asset Class | Investment Range |
| Global listed securities | 80% - 100% |
| Cash and cash equivalents | 0% - 20% |
There is a risk that the market price of the Fund’s assets will fluctuate. This may be as a result of factors such as economic conditions, government regulations, market sentiment, local and international political events, pandemic outbreaks, and environmental and technological issues.
The Fund’s primary investment objective is to achieve attractive risk-adjusted returns over the medium to long term while reducing the risk of permanent capital loss.
The Investment Manager aims to invest in companies that have sustainable competitive advantages which translate into returns on capital in excess of their cost of capital for a sustained period of time. The Investment Manager endeavours to acquire these companies at discounts to their assessed intrinsic value.
The Fund’s portfolio comprises 20 to 40 investments. The Investment Manager believes such a portfolio will achieve sufficient diversification to ensure the Fund is not overly correlated to a single company, or to industry-specific or macroeconomic risks.
Investing in the Fund offers investors a range of benefits, including:
- access to the Investment Manager’s investment expertise and a professionally managed global equity portfolio;
- access to attractive investment opportunities in offshore markets;
- an attractive Target Cash Distribution yield of 4% per annum;
- prudent risk management; and
- participation in any capital appreciation and income distributions of the Fund.
Investors can apply for or withdraw Open Class Units directly with the Responsible Entity or can buy Open Class Units from and sell Open Class Units on the Securities Exchange in the same way as any listed security.
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Units in the fund referred to herein are issued by Magellan Asset Management Limited ABN 31 120 593 946, AFS Licence No. 304 301 ('Magellan'). This material is issued by 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 the relevant Magellan financial product may be obtained by calling +61 2 9235 4888 or by visiting www.magellangroup.com.au.
Past performance is not necessarily indicative of future results and no person guarantees the future performance of the fund, 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. 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. 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. 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 on any part of the information
Contained Further information regarding any benchmark referred to herein can be found at www.magellangroup.com.au/funds/benchmark-information. Any third-party trademarks contained herein are used for information purposes only and are the property of their respective owners. Magellan claims no ownership in, nor any affiliation with, such trademarks. This material and the information contained within it may not be reproduced, or disclosed, in whole or in part, without the prior consent of Magellan.
Magellan Asset Management Limited is the Responsible Entity and Investment Manager for Magellan Global Fund. As Responsible Entity, we are responsible for the overall operations of the Fund. Magellan is a wholly owned subsidiary of Magellan Financial Group Limited, which is listed on the ASX.
Magellan was formed in 2006 to generate attractive returns for clients by investing in global equities and global listed infrastructure while minimising the risk of permanent capital loss.
Since then, they have developed a track record for creating and safeguarding wealth for investors. They have a highly qualified and experienced investment professional managing global equity and infrastructure strategies for clients based around the world. The team has received multiple industry awards and is a highly rated fund manager of global equities and global listed infrastructure, in Australia and overseas.
Arvid Streimann joined Magellan in 2014 as a Senior Analyst in the Financials Team. In 2017, Arvid was appointed Head of Macro Research and chairs the Macro Committee. In 2018, he was made a Portfolio Manager and in 2020 he was promoted to co-Portfolio Manager of the Global Equity Strategy.
Prior to Magellan, Arvid spent 10 years in the research departments of Morgan Stanley and UBS, covering financial institutions and economics. Previously, Arvid assisted insurers with their growth strategies at Aon and spent four years in the Reserve Bank of Australia’s economics and financial markets groups.
Arvid holds a Bachelor of Economics (First Class Honours) from the Australian National University and is a CFA charter holder. Arvid is a member of Magellan’s Investment Committee.
Nikki Thomas rejoined Magellan in 2022 after an absence of four years during which time she worked as a global portfolio manager at Alphinity Investment Management.
Nikki originally started at Magellan in 2007 as a Senior Research Analyst and was instrumental in setting up the Magellan Global Fund prior to its launch in July 2007. Over the following 11 years, she helped design the Magellan investment process, ran the Franchises team, was promoted to Portfolio Manager (2011), made Head of Research (2014) and managed a global ex-US strategy for US investors (2016).
Before Magellan, Nikki spent 14 years in institutional stockbroking, holding equity analyst positions at Deutsche Bank and BT Securities, where she helped develop the valuation tools used by the research team.
Nikki has been a CFA Charterholder since 1997, holds a Bachelor of Commerce (Merit) from the University of NSW, and is qualified as a Chartered Accountant.
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You have the choice of either buying units on the Securities Exchange (Ticker: MGOC) via your stockbroker/online broker or applying directly with the Responsible Entity by sending an Application Form to our unit registry.
If you hold your investments via an investment administration platform, you should consult your financial adviser who will be able to assist you in investing in the Fund.
There are important differences between investing in the Fund through the Securities Exchange or by applying directly with the Responsible Entity, including the price you will receive. You should read the PDS before making any decision on how to invest in the Fund.
Your HIN or SRN can be found on the top right hand corner of your holding statement and other shareholder communications. You will typically have a HIN if you bought your units on the Securities Exchange through a stockbroker. You will typically have an SRN if you applied for unit 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 not specific to just Magellan. A HIN is 11 characters long. 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.
If you have invested directly with the Responsible Entity and have chosen to receive communication via email, you will receive confirmation of your investment within 3 business days from when our unit registry (Apex Fund Services) has received your correctly completed Application Form (or notice of additional investment) and cleared application monies. Please note that if you choose to invest by cheque or request us to process a direct debit, it may take up to three business days (in the case of a cheque) and up to four business days (in the case of a direct debit) for your application monies to clear. If you have chosen to receive communication via mail, please allow for postage time on top of the 3 business days from receipt of your correctly completed Application Form (or notice of additional investment) and cleared application monies.
During distribution periods (at the start of July and the start of January for some funds) receipt of your confirmation statement may be delayed by 10-15 business days.
If you have purchased your units on the Securities Exchange, your stockbroker or online broker will issue the transaction confirmation.
Yes, investors can reinvest their distributions to obtain additional units in the fund without having to pay the cost of brokerage. If you wish to participate in the Distribution Reinvestment Plan (DRP), you can either update your election in the Unit Registry portal, available at https://magellan.apexgroupportal.com/welcome
or complete the DRP Election Form located at on the website at www.magellangroup.com.au/funds/forms-pds/.
We seek to be transparent with our clients and are making the following disclosures in relation to our listed funds:
- ASX announcements under each ASX code;
- Estimated Net Asset Value ("NAV") per Unit published on Magellan’s website daily;
- Indicative intra-day NAV per Unit ("iNAV") published on Magellan's website daily and which is updated throughout the ASX trading day;
- Monthly fund factsheets on Magellan's website and ASX; and
- The full portfolio on a quarterly basis with a delay period of no longer than two months on Magellan’s website and ASX.
You can exit the Fund either by making a withdrawal request to the Responsible Entity using a Withdrawal Form or by selling units on the Securities Exchange (Ticker: MGOC) via your stockbroker or online broker. How you enter the Fund does not affect the method by which you can exit the Fund.
| To make a withdrawal request with the Responsible Entity | |
| If you have a Securityholder Reference Number (SRN) or Investor Number | You will need to provide your SRN or Investor Number on your Withdrawal Form. |
| 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 the Fund 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 the Fund.
Distributions will generally be made semi-annually but may be made more or less frequently at the discretion of the Responsible Entity.
The Fund is a concentrated (20 to 40 stocks) value approach to investing. Investment decisions are driven by in-depth financial analysis and qualitative research that aims to identify outstanding companies at attractive prices. The Fund references the MSCI World Net Total Return Index (AUD) for comparative performance measurement.
The Fund aims to have a cash or cash equivalents range of 0-20% but generally intends to be fully invested.
The Fund has been rated by Zenith (as at October 2022), Morningstar (as at November 2022) and Lonsec (as at December 2022). Please visit the individual research house's website to view the rating and full report.
Published by Magellan Asset Management Limited
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Published by Magellan Asset Management Limited
Statutory Statement
The issuer of this product is identified at the top of this page. The PDS and target market determination for the product are available in the Documents section of this listing. Prospective investors should consider the PDS before deciding to acquire the product. This product listing was vetted by and approved by the product issuer identified above before publishing. Investment Markets (Aust) Pty Ltd AFSL 527875 (IM) is not the issuer of the product.
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