Magellan Global Fund Transition

If you wish to switch your investment in the Fund to the Global Opportunities Fund, we will waive both the buy and sell spreads associated with the switch (Switch Offer) and will reimburse any associated transaction costs to the Fund and to the Global Opportunities Fund.

If you hold your units in the Fund directly with us (on the issuer-sponsored sub-register): a valid switch form must be received at magellanfunds@apexgroup.com by 2:00pm (Sydney time) on 22 May 2026.

If you hold your units in the Fund via a brokerage account (on the CHESS sub-register): you will need to arrange for you stockbroker to convert your units to the issuer sponsored sub-register. Once your units have been converted to the issuer sponsored sub-register, a valid switch form must be received at magellanfunds@apexgroup.com by 2:00pm (Sydney time) on 22 May 2026.

The switch form is available on our website at bit.ly/magellan-global-fund-switch 

Alternatively, you may access the Global Opportunities strategy through your brokerage account by investing in the MFG Global Opportunities Fund – Active ETF (ASX: OPPT); however, investments made through this option will not be eligible for the Switch Offer.
The switch is expected to be completed on or around 26 May 2026.

You will typically have a HIN if you bought your units on the Securities Exchange through a stockbroker and an SRN if you applied for units 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're unsure of your SRN, please contact the Fund's unit registry for assistance. If you are unsure of your HIN, please contact your stockbroker. Further information can be located on our Insights Section via the following link  Magellan explains single unit structure

The proposed transition of the investment strategy of the Funds to the Vinva Global Alpha Strategy is expected to take effect in June 2026, following the investor notice period and subject to ASX approvals. A short portfolio repositioning period will be managed in accordance with standard market practice to facilitate an orderly transition. Timing may change depending on the approvals process. 

Vinva will be responsible for day to day portfolio management under an investment management agreement between MAML and Vinva (subject to approvals).

MAML will remain Responsible Entity and retains overall governance, compliance oversight and fiduciary duties to unitholder.

This is a client led decision.

We carefully considered a range of factors – including the Fund’s role in client portfolios, its investment mandate, performance outcomes, consultant support and ratings, fee structure and the costs of the change – and concluded the changes are in the best interests of unitholders.

Evolving investor preferences and needs, together with the demonstrated strength of systematic equity approaches within client portfolio allocations, support the transition to the Vinva Global Alpha Strategy, which offers a disciplined, active systematic approach at a materially lower fee.

​No. This is a matter that Magellan has considered carefully and a decision focused on the Global Equities business and the interests of our clients.

​The Board of Magellan carefully considered a range of factors including the Fund’s role in client portfolios, its investment mandate, performance outcomes, consultant support and ratings, fee structure and the costs of the change Investors will receive a materially lower management fee (reduced from 1.35% to 0.89% p.a. – a ~one-third reduction), effective from 5 May 2026.

Performance fees will no longer be charged.

The Vinva Global Alpha Strategy offers a disciplined, active systematic approach with a track record of consistent outperformance over 25 years, and the majority of the Vinva team has worked together for a long time.

APIR codes for MFG Global Fund – Open Class Units (MGOC) and  MFG Global Fund (Hedged) remain the same.

The ASX ticker code will change for MGOC to V1AC.

MHG will be terminated

If you are a unitholder in MFG Global Fund – Open Class Units (MGOC) or MFG Global Fund (Hedged) (MGFH), no action is required by you. As a result, no CGT event to the units you held would occur as a result of these changes.

As part of the change in investment strategy, the current investment portfolio of MGOC and MGFH will be transitioned to align with the Vinva Global Alpha Strategy. As a result, capital gain or loss will be realised from disposals of current investment holdings.

If you are a unitholder in MHG and you:

Sell your units on ASX on or before the Last Trading Day, then you’ll realise gain or loss on sale, or

Continue to hold your units and participate in the wind-up, you will participate in the termination of the Fund. Your units in MHG will be cancelled and you receive a final payment representing your proportionate share of the net proceeds from the realisation of the Fund’s assets, together with any income attributed to you.

​Vinva is an independent, majority employee-owned, Sydney-based global investment management firm formed in 2010, although the genesis of their team and investment approach dates back to the mid-1990s.

Vinva is a pioneer in systematic equity strategies and specialises in managing active equity strategies (long-only and long-short) across Australian and global equity markets.

Vinva applies an insight-driven systematic approach to investing. The majority of its team has worked together for a long time with a track record of consistent outperformance over 25 years.

Please visit our website to learn more about Vinva and their investment approach here.

A detailed summary of the key changes is outlined in the investor letter and include:

Holdings: from 20–40 (current) to typically 300+ (Vinva).

Approach: from concentrated fundamental to active systematic, style-neutral and diversified.

Benchmark: from MSCI World to MSCI ACWI ex Australia ex Tobacco ex Controversial Weapons Index (AUD).

Asset allocation: from 90–100% equities / 0–10% cash to 95–100% equities / 0–5% cash.

The Vinva portfolio is not expected to be materially correlated to a single company, country, or to industry-specific or macroeconomic risks.

The Funds will maintain their current semi-annual distribution frequency. As such, for MFG Global Fund - Open Class Units and MFG Global Fund (Hedged), we expect the next distribution will be for the period ended 30 June 2026.

For Magellan Global Equities Fund (Currency Hedged), if you participate in the wind-up, you receive a final payment representing your proportionate share of the net proceeds from the realisation of the Fund’s assets, together with any income attributed to you. We will send you a tax statement after the end of the financial year that will provide you with details of the amounts attributed to you from MHG to assist you in the preparation of your tax return.

For those who choose to switch to the Global Opportunities Strategy, unitholder’s tax position will depend on their tax cost base of their MFG Global Fund - Open Class Units and MFG Global Fund (Hedged) units. Please refer to investor comm for timing of the Switch Offer.