The FUM will get a kick with the fund changes and new Closed...

The FUM will get a kick with the fund changes and new Closed unit fund...

As an eligible investor in the Magellan Global Fund you have the opportunity to subscribe for up to $1 of Closed Class Units in the Magellan Global Fund for every $4 of units held.

Should you subscribe for Closed Class Units under the Partnership Offer, you will also receive valuable partnership benefits in the form of:

• additional Closed Class Units worth 7.5% of your subscription, funded by Magellan Group; and
• one MGF Option for each Closed Class Unit allotted to you under the Partnership Offer. Each MGF Option will be exercisable into one Closed Class Unit with the exercise price set at a 7.5% discount to the prevailing net asset value per Closed Class Unit at the time of exercise. This discount will be funded by Magellan Group in order to minimise dilution. The MGF Options are intended to be quoted on ASX and will have a three year term.

The Partnership Offer opens on 18 January 2021 and is expected to close on 23 February 2021. Closed Class Units and MGF Options issued under the Partnership Offer are expected to be allotted on 1 March 2021.

To take up your entitlement, a copy of your personalised Application Form is attached to this email. If you pay for your Application by BPAY, it is not necessary to return the Application Form. If you pay by cheque you will need to return the Application Form with your cheque or bank draft drawn from an Australian bank in Australian dollars. Your payment must be received by the registry before 5.00pm (Sydney time) on Tuesday, 23 February 2021.

The Product Disclosure Statement (PDS) is attached and you should read the PDS in full before deciding whether to apply for securities under the Partnership Offer. If you wish to receive a printed copy of the PDS, you may request one by calling the registry on 1300 127 780. If you have questions about whether to participate in the Partnership Offer, please contact your adviser, stockbroker or other professional adviser.