An actively managed, research driven and competitively priced portfolio of 70-100 resilient global listed infrastructure businesses.
Investment Objectives
The Fund’s primary investment objective is to achieve attractive risk-adjusted returns over the medium to long term through investment in a diversified portfolio of high quality companies that meet the Investment Manager’s definition of infrastructure.
Fund Overview
Magellan Core Infrastructure Fund is actively managed, research driven and competitively priced. Crucially, we know that this combination of rigorous fundamental stock selection and systematic portfolio management works. We've been offering this strategy to institutional investors for more than a decade and are delighted that this fund is now available to retail investors.
It is the intention to substantially hedge the capital component of the foreign currency exposure of the Fund arising from investments in overseas markets back to Australian Dollars.
The iNAV reflects the estimated NAV per Unit updated in respect of the Fund's portfolio stocks that have live market prices during the Trading Day, or where they do not have live market prices, may be updated for equivalent securities or movements in after-market trading and for foreign exchange movements to the extent that the impact is not offset by the hedging of the Fund's foreign currency exposure. The iNAV will not be updated for market-based movements such as movements in stock market indices.
Magellan has engaged ICE Data Indices, LLC and Solactive AG as iNAV calculation agents to independently calculate and disseminate an iNAV. Both iNAVs are freely available to investors. From time to time there may be differences between the two iNAVs as a result of different calculation methodologies or timing of the data.
Management Fee
0.50% p.a.
Distribution Frequency
Semi-annually
ARSN
646 028 131
APIR Code
MGE9182AU
Buy / Sell Spread
0.15%/0.15%
(Only applicable to investors who apply for units directly with the Fund)
Benchmark
S&P Global Infrastructure Index A$ Hedged Net Total Return
Investment Risks
All investments carry risk. While it is not possible to identify every risk relevant to an investment in a fund, we have provided details of risks in the fund's Product Disclosure Statement.
Transaction costs may also apply - refer to the Product Disclosure Statement. All management costs described above are inclusive of the estimated net effect of GST.
* iNAV calculations as shown on www.magellancoreseries.com.au (the "data") provided by ICE Data Indices, see ICE Terms of Use, and is updated during Cboe trading hours. Powered by Factset. iNAV is indicative and for reference purposes only. The Fund is not sponsored, endorsed, sold or marketed by ICE Data Indices, LLC, its affiliates ("ICE Data") and ICE Data or its respective third party suppliers MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE iNAV, IOPV, FUND OR ANY FUND DATA INCLUDED THEREIN. IN NO EVENT SHALL ICE DATA HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, DIRECT, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. You acknowledge that the data is provided for information only and should not be relied upon for any purpose.
Benchmark Information
Materials provided by Magellan may use or reference data sourced from third parties. The following provisions apply to certain third-party data used by Magellan.
MSCI
The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)
MSCI ESG
Certain information contained herein (the “Information”) is sourced from/copyright of MSCI Inc., MSCI ESG Research LLC, or their affiliates (“MSCI”), or information providers (together the “MSCI Parties”) and may have been used to calculate scores, signals, or other indicators. The Information is for internal use only and may not be reproduced or disseminated in whole or part without prior written permission. The Information may not be used for, nor does it constitute, an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product, trading strategy, or index, nor should it be taken as an indication or guarantee of any future performance. MSCI has established an information barrier between index research and certain Information. None of the Information in and of itself can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user assumes the entire risk of any use it may make or permit to be made of the Information. No MSCI Party warrants or guarantees the originality, accuracy and/or completeness of the Information and each expressly disclaims all express or implied warranties. No MSCI Party shall have any liability for any errors or omissions in connection with any Information herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.
Any Trademarks are trademarks of the respective owners and these trademarks may have been licensed for use by SPDJI and sublicensed for certain purposes by Magellan. Magellan’s financial products or services (“Magellan Products”) are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates or third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the index data.
S&P Dow Jones Indices, its affiliates and third party licensors make no representation or warranty, express or implied, to the owners of Magellan Products or any member of the public regarding the advisability of investing in securities generally or in Magellan Products particularly or the ability of the index supplied by SPDJI or its affiliates or third party licensors to track general market performance. S&P Dow Jones Indices' only relationship to Magellan with respect to such index is the licensing of the index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The index is determined, composed and calculated by S&P Dow Jones Indices without regard to Magellan or the Magellan Products. S&P Dow Jones Indices, its affiliates and third party licensors have no obligation to take the needs of Magellan or the owners of Magellan Products into consideration in determining, composing or calculating the index. S&P Dow Jones Indices, its affiliates and third party licensors are not responsible for and have not participated in the determination of the prices, and amount of Magellan Products or the timing of the issuance or sale of Magellan Products or in the determination or calculation of the equation by which any Magellan Product is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices, its affiliates and third party licensors have no obligation or liability in connection with the administration, marketing or trading of Magellan Products. There is no assurance that investment products based on the index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment advisor. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices, its affiliates or third party licensors to buy, sell or hold such security, nor is it considered to be investment advice.
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A reference to a particular investment or security, a credit rating or any observation concerning a security or investment provided in the services provided by S&P Dow Jones Indices or its affiliates or third party licensors is not a recommendation to buy, sell or hold such investment or security or make any other investment decisions. Accordingly, any user of the information contained in any of the data supplied by S&P Dow Jones Indices, its affiliates or any third party licensors should not rely on any credit rating or other opinion contained therein in making any investment decision. THE DATA AND SERVICES PROVIDED BY S&P DOW JONES INDICES, ITS AFFILIATES OR THIRD PARTY LICENSORS AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN "AS IS" BASIS AND USE IS AT THE USER’S OWN RISK.
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Ratings are only one factor to be taken into account when deciding whether to invest in a financial product. See Research house ratings disclaimers
Investment philosophy
At Magellan, we believe that the listed infrastructure asset class should deliver investors reliable investment returns
Seeking to achieve this aim, many other investment managers focus exclusively on the essential nature of the services provided by infrastructure assets, reasoning that this will confer predictable demand.
We agree that the predictable demand conferred by the provision of essential services is an indispensable characteristic of infrastructure. Yet our experience tells us that predictable demand is only half of the story. To produce reliable investment returns, you also need to ensure that the cash flows of the business are reliable. And to ensure that cash flows are reliable, you need to be confident that the earnings of the business will not be eroded by competition, commodity price movements, or sovereign risk
To implement this view, we developed a strict, proprietary framework to identify securities that are appropriately characterised as infrastructure. Only these companies, whose characteristics confer uncommon resilience, are eligible for inclusion in our portfolios.
Defined in this manner, our track record demonstrates that global listed infrastructure provides investors with a highly defensive, inflation linked exposure, that exhibits low correlation with other asset classes, warranting a place in every investor's portfolio.
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Portfolio Construction
There are three pillars to the Magellan Core Infrastructure Fund's investment process:
Rigorous fundamental investment research
Systematic portfolio management
Continuous active monitoring
Importantly, we know that this combination of active stock selection, underpinned by rigorous fundamental investment research and systematic portfolio management works.
We've been offering the Core Infrastructure strategy to institutional investors for more than a decade now and have amassed more than $8.7 billion* of funds under management. We are pleased to have delivered these investors an A$ hedged return of 10.3% p.a.*, net of fees, since our December 2009 inception.
Important Information: Calculations are based on exit price with distributions reinvested, after ongoing fees and expenses but excluding individual tax, member fees and entry fees (if applicable). Inception date 17 December 2009 (inclusive). Past performance is not a reliable indicator of future performance.
31 October 2024
Performance
3 Months
6 Months
1 Year
3 Years (% p.a.)
5 Years (% p.a.)
7 Years (% p.a.)
10 Years (% p.a.)
Since Inception** (% p.a.)
Magellan Core Infrastructure
3.96%
11.72%
20.81%
3.56%
3.32%
5.10%
7.23%
10.50%
Benchmark*
6.78%
14.09%
29.44%
7.61%
4.67%
5.19%
6.14%
7.99%
Out/Under Performance
-2.82%
-2.37%
-8.63%
-4.05%
-1.35%
-0.09%
1.09%
2.51%
* S&P Global Infrastructure Index A$ Hedged Net Total Return spliced with the UBS Developed Infrastructure and Utilities Index A$ Hedged Net Total Return prior to 1 January 2015. The UBS Developed Infrastructure and Utilities Index A$ Hedged Net Total Return ceased to be published from 31 May 2015.
** Fund inception 17 December 2009 (inclusive). The Fund was established on 17 December 2009 as an unregistered managed investment scheme. On 19 November 2020 the Fund’s name was changed to MFG Core Infrastructure Fund and on 30 November 2020 the Fund was registered with ASIC as a registered managed investment scheme and became available to retail investors. On 11 January 2024, the Fund’s name was changed to Magellan Core Infrastructure Fund.
Important Information: Calculations are based on exit price with distributions reinvested, after ongoing fees and expenses but excluding individual tax, member fees and entry fees (if applicable). Inception date 17 December 2009 (inclusive). Past performance is not a reliable indicator of future performance.
Please ensure that your Tax File Number (TFN) or Australian Business Number (ABN) is provided to the Unit Registry by Record Date, otherwise tax will be withheld on income attributed to you at the top marginal tax rate plus Medicare Levy.
If you have elected to receive distributions in cash, please ensure that your bank account details are provided to the Unit Registry by Record Date, otherwise your distribution payment will be withheld until a valid bank account is provided.
To review or update your TFN/ABN and bank account details, log on to the Unit Registry’s online portal.
You have the choice of either buying units on the Securities Exchange via your stockbroker/online broker or applying directly with the Responsible Entity by sending an Application Form to our unit registry.
If you hold your investments via an investment administration platform, you should consult your financial adviser who will be able to assist you in investing in the Fund.
There are important differences between investing in the Fund through the Securities Exchange or by applying directly with the Responsible Entity, including the price you will receive.
You should read the Product Disclosure Statement (PDS) and the Target Market Determination (TMD) before making any decision on how to invest in the Fund.
If you invest on the Securities Exchange there is no initial minimum investment amount.
If you invest directly with the Responsible Entity by sending us an Application Form, the minimum initial investment is A$10,000.
Additional investments can be made into an existing account at any time. No minimum applies for additional investments by BPAY. A minimum of $5,000 applies to EFT and cheque payments.
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 have invested directly with the Responsible Entity, you will receive your transaction confirmations from the Unit Registry, which will include your SRN. If you have invested directly with the Responsible Entity and have chosen to receive communication via email, you will receive confirmation of your investment from the Fund's unit registry (upon receipt of your correctly completed Application Form (or notice of additional investment) and cleared application monies.
If you have purchased your units on the Securities Exchange, your stockbroker or online broker will issue the transaction confirmation.
During distribution periods (at the start of July and the start of January for some funds) receipt of your confirmation statement may be delayed by 10-15 business days.
The Responsible Entity has established a DRP in respect of distributions made by the Fund. In respect of each distribution, the Responsible Entity may elect to offer or not offer the DRP. Under the DRP Rules, an investor may elect to have all, or part of the distribution that is payable to that investor reinvested as additional units in the Fund. The additional units will be issued at a price equal to the NAV per Unit, as provided in the DRP Rules. The DRP Rules provide detail on the methodology for determining the price at which units are issued to investors and can be found here. Details in relation to each distribution will be published on the announcements platform of the Securities Exchange Operator and the Fund’s website at www.magellangroup.com.au/funds/distributions/.
The following information is available on the Cboe announcements platform and/or on our website.
information about the Net Asset Value of the Fund’s underlying investments daily;
information about redemptions from the fund and the number of units on issue;
information about distributions paid in relation to the fund;
monthly fund factsheets ;
the full portfolio on a quarterly basis with a one-month delay ;
information that we disclose to ASIC which is not generally available and that a reasonable person would expect, if the information were generally available, to have a material effect on the price or value of the fund's units (as required under section 675 of the Corporations Act); and
any information that is provided to an overseas stock exchange and would be required to be disclosed to the Securities Exchange Operator under section 323DA of the Corporations Act as if the fund was admitted under the Listing Rules.
You can withdraw some or all of your investment at any time, as long as the withdrawal request is for at least $5,000. To do this, you will need to complete a Withdrawal Form or written notice of withdrawal. You can request a specified dollar amount to be withdrawn, a specified number of units to be withdrawn, or a full redemption of your investment in the Fund. If your withdrawal request results in your remaining investment in the Fund falling below $5,000, we may require you to withdraw your entire balance.
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.
Magellan’s Active ETFs (Exchange-Traded Funds) are actively managed investment funds, which means an investment fund manager or investment team are making decisions about the underlying investment portfolio allocation. The ETFs are quoted on a securities exchange and can be bought and sold just like any other stock listed on an exchange. These funds provide investors with easy access to the benefits of investing in global equities and the investment experience and expertise of Magellan. Further information can be located on our Insghts Section via the following link https://www.magellangroup.com.au/insights/magellan-explains-exchange-traded-funds/
Cboe Australia Pty Ltd ("Cboe") is a regulated stock exchange, that offers trading in all Australian listed securities and the exclusive trading of Cboe quoted Warrants and Funds.
Cboe is an alternative trading exchange to the ASX.
The unit registry for the fund is Automic Group
T | 1300 408 792 (or +61 2 8072 1481)
F | +61 2 8072 1409
E | magellanfunds@automicgroup.com.au
A | GPO Box 2629, Sydney NSW 2001
Investing in companies that provide essential services to society and offer investors earning predictability, reliable returns, and low volatility.
Why Global Listed Infrastructure?
Unit Registry Enquiries
Automic
Automic Group provides a range of registry services including the processing of applications, redemptions and distributions as well as the maintenance of unitholder records.
Please contact Automic Group directly for assistance with your unitholdings.
Important Information: Units in the fund(s) referred to herein are issued by Magellan Asset Management Limited (ABN 31 120 593 946, AFS Licence No 304 301). Past performance is not necessarily indicative of future results and no person guarantees the future performance of the fund(s), the amount or timing of any return from the fund(s), or that the investment objectives of the fund(s) will be achieved. This material has been provided for general information purposes and must not be construed as investment advice. It does not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should consider obtaining professional investment advice tailored to their specific circumstances and should obtain and read the relevant Target Market Determination ('TMD') and Product Disclosure Statement ('PDS') applicable to the fund(s) prior to making a decision about whether to acquire or continue to hold an interest in the fund(s). The TMD and PDS for the fund(s) are available on this website or can be obtained by calling 02 9235 4888. Any trademarks, logos, and service marks contained herein may be the registered and unregistered trademarks of their respective owners. Nothing contained herein should be construed as granting by implication, or otherwise, any licence or right to use any trademark displayed without the written permission of the owner. No part of this material may be reproduced or disclosed, in whole or in part, without the prior written consent of Magellan Asset Management Limited.
The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned March 2024) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at https://www.zenithpartners.com.au/our-solutions/investment-research/
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3) A pension fund or charity;
4) An individual who provides one or more investment services on a professional basis;
5) Persons whose ordinary activities involve or are reasonably expect to involve them, as principal or as agent, in acquiring, holding, managing or disposing of investments for the purposes of a business carried on by them;
6) Persons whose ordinary business involves the giving of advice, which may lead to another person acquiring or disposing of an investment or refraining from so doing.
Persons who do not fall into one of the above categories should not review the information contained in the site.
Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your investment, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted. Investors should be aware of the increased risks associated with investments in foreign/emerging markets securities, high yield securities and smaller companies.
Important Legal Information: By clicking "I agree," the user agrees that I have read the terms detailed below and confirm that I am an "Institutional Investor" and that I wish to proceed.
Information contained in the Institutional section of this website is not intended for institutional investors in any jurisdiction in which distribution or purchase is not authorized.
The information is exclusively intended for, and directed at institutional investors, accredited investors and expert investors as defined under the Securities and Futures Act (Singapore) (“SFA”) For more information, refer to the SFA or consult your legal adviser.
Nothing on this website constitutes investment, legal, business, tax or any other type of advice. The information on this website does not take into account the particular financial and investment objectives, circumstances and needs of any person. Information on the website is not intended for investors in any jurisdiction in which distribution or purchase is not authorized.
Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your investment, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted. Investors should be aware of the increased risks associated with investments in foreign/emerging markets securities, high yield securities and smaller companies.
You are solely responsible for evaluating the risks and merits regarding the use of the website and any services provided within. Nothing contained in that website constitutes a solicitation, recommendation, endorsement or offer to buy or sell any securities or other financial instruments.
Important Legal Information: By clicking "I agree," the user agrees that I have read the terms detailed below and confirm that I am a "professional investor" as defined under the Securities and Futures Ordinance of Hong Kong (the “Ordinance”) and any rules made under the Ordinance, and that I wish to proceed.
Information contained in the Institutional section of this website is not intended for institutional investors in any jurisdiction in which distribution or purchase is not authorized.
The information is exclusively intended for, and directed at, professional investors as defined under the Ordinance and any rules made under the Ordinance or as otherwise may be permitted by the Ordinance. For more information, refer to the Securities and Futures Commission of Hong Kong or consult your legal adviser.
Nothing on this website constitutes investment, legal, business, tax or any other type of advice. The information on this website does not take into account the particular financial and investment objectives, circumstances and needs of any person. Information on the website is not intended for investors in any jurisdiction in which distribution or purchase is not authorized.
Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your investment, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted. Investors should be aware of the increased risks associated with investments in foreign/emerging markets securities, high yield securities and smaller companies.
You are solely responsible for evaluating the risks and merits regarding the use of the website and any services provided within. Nothing contained in that website constitutes a solicitation, recommendation, endorsement or offer to buy or sell any securities or other financial instruments.
Thank you for your interest. We are committed to expanding our institutional website to meet the needs of our global investor base. We do not, however, have content approved for your location at this time. For additional information please email institutional@magellangroup.com.au
Important Information
This document does not constitute an offer of units in a Magellan Fund in any jurisdiction other than Australia or New Zealand (or in jurisdictions where it is lawful to make such an offer). Applications for units in a Magellan Fund from residents outside of Australia and New Zealand may not be accepted.
By clicking on the "I Confirm" button below you are confirming that you are a resident of Australia or New Zealand (or that you are acting on behalf of a person who is a resident in one of those jurisdictions).
