Magellan Fund Converts Units, Seeks ASX De-listing

Magellan Global Fund Units (AU:MGF) has released an update.

Magellan Global Fund has successfully amended its constitution to convert Closed Class Units to Open Class Units and has applied for de-listing from the ASX, aiming to address the trading discount issue and enhance flexibility for unit holders. The transition, which includes suspension of trading for Closed Class Units, will transform the fund into an open-ended Active ETF, subject to disclosure obligations. The expected completion of this process, including the de-listing, is slated for 22 July 2024.

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