Join our investing community

New fund manager: Magellan

Discussion in 'Managed Funds & Index Funds' started by Glebe, 28th Nov, 2006.

  1. Glebe

    Glebe Well-Known Member

    Joined:
    15th Aug, 2005
    Posts:
    932
    Location:
    Sydney, NSW
    Just a heads up...

    Magellan Flagship Fund is a listed investment company (LIC) currently undergoing its IPO. It's set to be Australia's biggest LIC. It's being run by some gun Merchant Bankers - Chris Mackay (former boss of UBS Australia) and Hamish Douglass (Co-head of Global Banking, Deutschebank Australia).

    The mandate is to invest in 50 global companies, and the fee structure is based on a small management fee and a large outperformance fee (outperformance of both the bond market and MSCI World Index).

    Prospectus:
    https://www.abnamromorgans.com.au/index.cfm?objectid=DE606830-CCB3-BE73-2744B7625F05FF81

    James Packer is throwing quite a bit of money into it. I'm considering investing, to me it has the feel of Platinum.

    Thoughts?
     
  2. Insight

    Insight Brisbane Buyers Agent

    Joined:
    24th Sep, 2006
    Posts:
    229
    Location:
    Brisbane
    Is James Packer investing like the retail guy or directly in the business?
     
  3. Glebe

    Glebe Well-Known Member

    Joined:
    15th Aug, 2005
    Posts:
    932
    Location:
    Sydney, NSW
    It is managed by New Privateer Holdings (NPH). Consolidated Press (James Packer's private company) has a 20% stake in NPH.