Magellan plans list global trust
Thursday, August 10th 2017, 9:23AM
Magellan is planning an IPO for a new ASX-listed investment trust, the Magellan Global Trust.
The Magellan Global Trust will invest in a focussed portfolio of high quality global companies and intends to target a 4% cash distribution yield. Magellan Asset Management will be the investment manager.
“We believe that the Magellan Global Trust will be an attractive vehicle for investors making an investment in global equities. We believe that many retail investors value regular cash distributions and this has been missing in many global equity products. We consider that the target 4% cash distribution yield differentiates this offering from many other global equity products,” Magellan CEO and Chief Investment Officer, Hamish Douglass said in a statement.
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