Magellan Global Fund

If you are invested through a broker, and have a Holder Identification Number (HIN), the new Open Class Units will be available under the same HIN. If your existing investment is through a Security Holder Number (SRN), you will be issued a new SRN for the issuance of Open Class Units under the Conversion. Your Apex portfolio number will continue to remain the same. For any queries on your account details, please contact the Fund’s registry, Apex Group.

Upon implementation of the Conversion on Monday, 22 July, Closed Class Unitholders had their Closed Class Units redeemed and were issued with new Open Class Units at a Conversion Ratio that is based on the respective net asset value of each unit class on Friday 19 July. The Conversion Ratio is 0.73604246 (rounded to 8 decimal points).

If you have an existing login, your new holdings can be linked to this login. If you are a first time user, you will need to register for access. Alternatively, you can contact the Fund’s registry Apex Group for assistance with the web portal.

All Closed Class Unitholders receiving Open Class units through this Conversion will receive an Allotment Letter and Welcome Letter based on their communication preference. The Allotment Letter will provide confirmation of the new account number and total number of Open Class units allotted under the Conversion. The Welcome Letter will contain details of the new account including holding details such as distribution preferences and tax information for review and maintenance.

Magellan has applied (on behalf of the Unitholders) for a class ruling from the Commissioner of Taxation to confirm certain Australian income tax implications of the Conversion, including whether certain Australian resident Closed Class Unitholders, who would otherwise make a capital gain or capital loss on redemption of their Closed Class Units, are eligible to obtain unit exchange CGT roll-over relief which would allow any capital gain or capital loss from the redemption of Closed Class Units under the Conversion to be disregarded and deferred until a subsequent taxable event occurs in respect of the Open Class Units. For further information, refer to Section 6 of the Unitholder Booklet.

Magellan has established a distribution reinvestment plan (DRP) in respect of distributions made to Open Class Unitholders that gives them the ability to elect to participate in the DRP under the DRP rules.

Closed Class Unitholders who have previously made an election to participate in the distribution reinvestment plan in respect of the Closed Class Units will be treated as having made an election to participate in the distribution reinvestment plan in respect of Open Class Units following implementation of the Conversion.

Closed Class Unitholders who have previously elected to participate in the DRP with respect to the Closed Class Units and no longer wish to participate in the DRP following the Conversion must change their election prior to the election date for the next distribution.

The registry of the Magellan Global Fund (Open Class Units) will continue to remain with Apex Group. Their contact details are:

Telephone:

• 1300 127 780 (Australia)
• 0800 787 621 (New Zealand) 
• +61 2 8259 8566 (International)

Email: magellanfunds@apexgroup.com

Postal Address: GPO Box 143, Sydney, NSW 2001