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Magellan Global Opportunities Fund No. 1

A core holding investing in 20 to 40 of the world’s best global stocks

The Fund aims to outperform the MSCI World Net Total Return Index (AUD), after fees, over periods of three years or longer.

Invest In The World's Best

Amazon
Alphabet
Facebook (Meta)
S&P Global
Mastercard
Microsoft
Netflix
Taiwan Semiconductor
SAP
Nestle

Fund Facts

Portfolio Team
Alan Pullen
Alan Pullen
Portfolio Manager
Ryan Joyce, CFA
Ryan Joyce, CFA
Deputy Portfolio Manager
Structure
Global Equity Fund, $AUD unhedged
Inception Date
1-January-2022
Strategy size
$2,275.0 million
31-Jul-2026
Fund size
$2.0 million
31-Jul-2026
Management Fee
0.75%
Distribution Frequency
Semi-annually
ARSN
682 380 892
APIR Code
MGE5500AU
Buy / Sell Spread
0.10%/0.10%
Benchmark
MSCI World Net Total Return Index (AUD)
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 fees and costs described above are inclusive of the estimated net effect of GST.

Strategy AUM is the aggregate of all wholesale and institutional portfolios managed to the Magellan Global Opportunities Strategy.

Magellan perceives outstanding companies to be those that are able to sustainably exploit competitive advantages in order to continually earn returns on capital that are materially in excess of their cost of capital.

While Magellan is extremely focused on fundamental business value, it is not a typical 'value' investor. The Magellan Global Opportunities Fund No. 1 will aim to invest in companies that have sustainable competitive advantages which translate into returns on capital in excess of their cost of capital for a sustained period of time. We endeavour to acquire these companies at discounts to their assessed intrinsic value. Equities that appear undervalued on the basis of a low price-to-earnings or price-to-book multiples will often prove to be poor investments if the underlying business is fundamentally weak and exhibits poor returns on capital.

Magellan focuses on risk-adjusted returns, rather than benchmark-relative returns. As a result, the Fund's investment process is designed to generate an unconstrained, concentrated portfolio of high-quality companies.

The Fund’s portfolio will comprise 20 to 40 investments. Magellan believes such a portfolio will achieve sufficient diversification to ensure the Fund is not overly correlated to a single company, or to industry specific or macroeconomic risks.

Intensive bottom-up stock analysis and industry research
Intensive bottom-up stock analysis and industry research
Broad and detailed macroeconomic insight
Broad and detailed macroeconomic insight
Rigorous portfolio construction and risk discipline
Rigorous portfolio construction and risk discipline

Intensive bottom-up stock analysis and industry research is undertaken in order to identify outstanding companies. This involves the assessment of potential investments against key quality criteria, as well as assessments of their intrinsic value. Magellan uses a proprietary ranking tool, the Magellan Conviction Scoring Matrix, to rank these companies based on these factors. This process enables the portfolio to be weighted towards higher conviction ideas (on a risk-adjusted basis).

Magellan's detailed macroeconomic analysis is overlayed during portfolio construction, alongside the application of both fixed and dynamic risk limits. This process ensures that the portfolio is not overly exposed to aggregation risk (risk which arises from correlated portfolio positions) or macroeconomic event risk. Macroeconomic event risk can be a significant source of negative returns for investors. Magellan will make significant changes to the portfolio if it believes that macroeconomic events could lead to significant and sustained loss in value for investors. Such events would include a financial crisis, a sustained oil price shock, a global pandemic or a major global conflict.

Growth of AUD $10,000

From inception to 31 July 2026

Important Information: Fund Inception 1 January 2022 (inclusive). 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). Effective 1 July 2024, the management fee was reduced from 1.05% p.a. to 0.75% p.a. and the performance fee changed from ‘12.5% of the excess return of the Fund above the “Absolute Return” hurdle of 10% p.a.’ to ‘10% of the excess return of the Fund above the MSCI World Net Total Return Index (AUD)’. Effective 15 September 2025 the performance fee was removed. Benchmark is the MSCI World Net Total Return Index (AUD). Past performance is not a reliable indicator of future performance.

31 July 2026
Strategy Performance† 3 Months 6 Months 1 Year 3 Years
(% pa)
Since
Inception**
(% pa)
Magellan Global Opportunities Fund No. 1 6.57% 2.30% -0.51% 14.60% 10.82%
Benchmark* 6.80% 7.57% 10.38% 16.52% 11.74%
Excess v Benchmark -0.23% -5.27% -10.89% -1.92% -0.92%

* MSCI World Net Total Return Index (AUD)
** Inception date 1 January 2022 (Inclusive)

Important Information: Effective 1 July 2024, the management fee was reduced from 1.05% p.a. to 0.75% p.a. and the performance fee changed from ‘12.5% of the excess return of the Fund above the “Absolute Return” hurdle of 10% p.a.’ to ‘10% of the excess return of the Fund above the MSCI World Net Total Return Index (AUD)’. 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). Fund Inception 1 January 2022 (inclusive). Past performance is not a reliable indicator of future performance.

Top 10

30 June 2026
8.1% Microsoft
8.0% Taiwan Semiconductor
7.0% Amazon.com
6.3% Alphabet
6.3% Mastercard
4.8% Meta Platforms
4.4% SAP
4.1% Nestlé
3.9% Netflix
3.9% S&P Global
Date Net Asset Value Entry Exit
12-Aug-2026 4.7506 4.7554 4.7458
11-Aug-2026 4.7866 4.7914 4.7818
10-Aug-2026 4.8225 4.8273 4.8177
07-Aug-2026 4.8137 4.8185 4.8089
06-Aug-2026 4.8090 4.8138 4.8042
05-Aug-2026 4.7855 4.7903 4.7807
04-Aug-2026 4.8000 4.8048 4.7952
03-Aug-2026 4.8208 4.8256 4.8160
31-Jul-2026 4.7160 4.7207 4.7113
30-Jul-2026 4.6871 4.6918 4.6824
Download historical unit prices

Notice of reliance

Magellan Asset Management Limited as responsible entity of the Magellan Global Opportunities Fund No. 1 will rely on ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price for Interests in Managed Investment Schemes) Instrument 2023/693.

Date Distribution per unit Reinvestment price  
June 2026 26.0000 cents $4.5204 Annual Fund Distributions 2026
December 2025 41.5000 cents $5.1479  
June 2025 9.0000 cents $5.3315 Annual Fund Distributions 2025
       
IMPORTANT

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.

Fund Updates

31-Jul-2026 Magellan Global Opportunities Fund - July 2026
30-Jun-2026 Full Portfolio Holdings
30-Jun-2026 Magellan Global Opportunities Fund - June 2026
31-May-2026 Magellan Global Opportunities Fund - May 2026
30-Apr-2026 Magellan Global Opportunities Fund - April 2026
31-Mar-2026 Full Portfolio Holdings
31-Mar-2026 Magellan Global Opportunities Fund - March 2026
28-Feb-2026 Magellan Global Opportunities Fund - February 2026
31-Jan-2026 Magellan Global Opportunities Fund - January 2026
31-Dec-2025 Full Portfolio Holdings
31-Dec-2025 Magellan Global Opportunities Fund - December 2025
30-Nov-2025 Magellan Global Opportunities Fund - November 2025
31-Oct-2025 Magellan Global Opportunities Fund - October 2025
30-Sep-2025 Portfolio Holdings
30-Sep-2025 Magellan Global Opportunities Fund - September 2025
31-Aug-2025 Magellan Global Opportunities Fund - August 2025
31-Jul-2025 Magellan Global Opportunities Fund - July 2025
30-Jun-2025 Magellan Global Opportunities Fund - Portfolio Holdings
30-Jun-2025 Magellan Global Opportunities Fund - June 2025
31-May-2025 Magellan Global Opportunities Fund - May 2025
30-Apr-2025 Magellan Global Opportunities Fund - April 2025
31-Mar-2025 Magellan Global Opportunities Fund - Portfolio Holdings
31-Mar-2025 Magellan Global Opportunities Fund - March 2025
28-Feb-2025 Magellan Global Opportunities Fund - February 2025
31-Jan-2025 Magellan Global Opportunities Fund - January 2025
31-Dec-2024 Magellan Global Opportunities Fund - December 2024
31-Dec-2024 Magellan Global Opportunities Fund - Portfolio Holdings
Top 10 Holdings in Detail

Stewardship Reports

Financial Reports

Continuous Disclosure

Access the continuous disclosure information issued by Magellan Asset Management Limited in relation to this fund.

Read the Product Disclosure Statement prior to making any investment decisions.

The Fund is likely to be appropriate for a range of investors, including investors seeking capital growth, who have a minimum investment timeframe of seven years and a high risk tolerance, and are comfortable with the risks associated with investing in global equities. Refer to the Fund’s Target Market Determination for further information about the classes of investors whose objectives, financial situation and needs are likely to align with the Fund’s key attributes.

Invest directly with the fund

Speak with your adviser/broker. To find an adviser, visit Financial Advice Association Australia.

Global Equities

Why Global Equities?

Offering a range of funds that invest in high-quality companies for the long-term which translate into returns on capital in excess of their cost of capital for a sustained period of time.

Unit Registry Enquiries

Apex Group

Apex 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 Apex Group directly for assistance with your unitholdings.

Investor Login
Telephone:
1300 127 780 (Australia)
+61 2 8259 8566 (International)
0800 787 621 (New Zealand)
Fax:
+61 2 9247 2822
Postal Address:
GPO Box 143
Sydney, NSW 2001

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.

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