Magellan Financial Group Limited proposal to restructure Global Equities Retail Funds
Magellan Financial Group Limited’s (‘Magellan Financial Group’) main operating subsidiary, Magellan Asset Management Limited (‘Magellan’), has today announced a restructure proposal to simplify Magellan’s Global Equities retail product offering. The restructure is proposed to occur via a consolidation of the unlisted opened-ended Magellan Global Fund, the listed opened-ended Magellan Global Equities Fund and the listed closed-ended Magellan Global Trust into a single fund with two unit classes – an Open Class and a Closed Class. Both unit classes of the merged trust – the Magellan Global Fund – are intended to be quoted on ASX.
Read more...