Magellan Global Fund Units (AU:MGF) has released an update.
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Magellan Global Fund Units has initiated a proposal to convert Closed Class Units to Open Class Units, pending approval from unit holders in upcoming meetings, with comprehensive details provided in a Unitholder Booklet and an accompanying Product Disclosure Statement. The Fund’s management and an independent expert both endorse the move, citing it as beneficial for unit holders. The conversion process, subject to necessary approvals, is set with a tentative schedule, including the cessation of Closed Class Units trading and the start of Open Class Units trading by July 2024.
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