After launching an ASX-quoted version of its Magellan Global Fund in February 2015, the international investment company is now set to launch a currency hedged version of the fund called the Magellan Global Equities Fund (Currency Hedged).
Commenting on the launch of the fund, which is expected to commence trading on 10 August 2015, Magellan general manager of distribution Frank Casarotti said the fund has grown over $257 million and has approximately 4,450 unit holders.
“Following the recent fall in the Australian dollar we have seen increased investor demand for the currency hedged versions of our funds.
“The Magellan Global Equities Fund (Currency Hedged) will give Australian investors a complementary choice to access our global equities expertise via a simple ASX-quoted solution.”
“As is the case with all Magellan ASX-quoted funds, investors will have the benefit of live market pricing and the ability to buy and sell the fund’s units in the secondary market in the same way, and with the same ease, as any ASX-listed security,” Mr Casarotti said.
According to Magellan, the features of the new fund include the ability to buy and sell unit on the ASX and settle via CHESS, provide access to live and transparent market pricing, active management and a tight price range around net asset value.
