Magellan lists hedged version of global equities fund

funds-management/equities/

10 August 2015
| By Jason |
image
image
expand image

Magellan Financial Group has launched a currency hedged version of its ASX quoted Magellan Global Equities Fund (MGEF) and is set to begin trading from today onwards.

The fund will carry the stock code of MHG and follows the listing of the MGEF in February of this year.

Magellan, General Manager of Distribution, Frank Casarotti, said support for the MGEF had been strong with the fund attracting $257 million from more than 4400 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 MGEF (Currency Hedged) will give Australian investors a complementary choice to access our global equities expertise via a simple ASX-quoted solution.

The newly listed vehicle will be driven by bottom-up stock analysis, industry research and macroeconomic analysis and invest in a portfolio of between 20 and 40 global equity stocks and can hold up to 20 per cent of its net assets in cash.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 4 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 5 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 4 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 2 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND