From 18 November 2019, Magellan Asset Management Ltd (“Magellan”) will no longer be offering Direct Debit as a payment option for additional investments to the Funds above. In place of Direct Debit, Magellan will be introducing BPAY® as a payment option. The minimum amount for an additional investment made using BPAY® will be $500 for all Funds above, other than Magellan High Conviction Fund - Class B Units which will be $1,000.
Electronic Funds Transfer (EFT) and Australian Dollar Cheque will continue as payment methods for additional investments. The minimum amounts for additional investments by these methods will remain unchanged at $5,000 for each Fund, other than Magellan High Conviction Fund – Class B Units which will be $10,000.
Regular Monthly Investment Plan – cancellation
From 20 November 2019, Regular Monthly Investment Plans (“Plans”) administered by means of Direct Debit will no longer be available. For those investors who currently have a Plan set up, the last Direct Debit from a nominated bank account will occur on this date. The easiest way for investors to either continue to, or start to, add to existing investments on a regular basis would be to set up a recurring BPAY® payment with their financial institution.
Further Information
Information on how to set up BPAY® will be available on our website by the end of November.
28 June 2019
A unit pricing error has been identified in The Airlie Concentrated Share Fund (the “Fund”). The error is the result of management and trustee fees (the “fees”) not being calculated and charged to the Fund in accordance with the Fund’s Constitution.
Magellan Asset Management Limited (“Magellan”), Responsible Entity to the Fund, has assessed the amount of compensation owed to all investors in the Fund. Compensation was assessed as payable to investors (relative to their holdings in the Fund) if actual fees paid by the Fund each month were greater than the fees that should have been charged.
All existing investors that were adversely impacted by the error have been compensated by Magellan by way of additional units in the Fund. The compensation to exited unit holders (who were adversely affected by $20 or more) has been funded by Magellan and includes an allowance for the time value of money. Magellan has sent written communication about the error to all investors that were adversely impacted.
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Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your investment, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted. Investors should be aware of the increased risks associated with investments in foreign/emerging markets securities, high yield securities and smaller companies.
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Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your investment, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted. Investors should be aware of the increased risks associated with investments in foreign/emerging markets securities, high yield securities and smaller companies.
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Persons who do not fall into one of the above categories should not review the information contained in the site.
Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your investment, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted. Investors should be aware of the increased risks associated with investments in foreign/emerging markets securities, high yield securities and smaller companies.
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Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your investment, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted. Investors should be aware of the increased risks associated with investments in foreign/emerging markets securities, high yield securities and smaller companies.
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Nothing on this website constitutes investment, legal, business, tax or any other type of advice. The information on this website does not take into account the particular financial and investment objectives, circumstances and needs of any person. Information on the website is not intended for investors in any jurisdiction in which distribution or purchase is not authorized.
Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your investment, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted. Investors should be aware of the increased risks associated with investments in foreign/emerging markets securities, high yield securities and smaller companies.
You are solely responsible for evaluating the risks and merits regarding the use of the website and any services provided within. Nothing contained in that website constitutes a solicitation, recommendation, endorsement or offer to buy or sell any securities or other financial instruments.
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