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All management costs described above are inclusive of the estimated net effect of GST.
* The iNAV reflects the estimated NAV per Unit updated in respect of the Fund’s portfolio stocks that have live market prices during the ASX Trading Day and for foreign exchange movements to the extent that the impact is not offset by the hedging of the Fund’s foreign currency exposure.
Magellan has engaged ICE Data Indices, LLC and Solactive AG as iNAV calculation agents to independently calculate and disseminate an iNAV. Both iNAVs are freely available to investors. From time to time there may be differences between the two iNAVs as a result of different calculation methodologies or timing of the data.
** As at 31 December 2020.