What is the Fund's distribution policy?

The Responsible Entity intends to target a cash distribution which will be published on the announcements platform of the Securities Exchange Operator and the Fund’s website at https://www.magellangroup.com.au/funds/distributions/.  (“Target Cash Distribution”). 

The Responsible Entity has the discretion to distribute an amount higher than the Target Cash Distribution. The distribution per unit will be paid semi-annually (for the periods ending 30 June and 31 December of each year) although the Fund may make distributions more or less frequently at the discretion of the Responsible Entity. 

The distribution may comprise an amount attributed to you from income (such as dividends received from shares and interest) less expenses incurred by the Fund (such as management and performance fees) plus net capital gains made on the sale of shares or other investments held. In some circumstances, the Fund may distribute a payment out of the capital invested in addition to a distribution of net income or net capital gains, or where the Fund has not generated any net income or net capital gains during the income year. The distribution investors may receive will be based on the number of units they hold at the nominated record date. It is not pro-rated according to the time that investors have held their units.