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Launch of Airlie Australian Share Fund on ASX

PUBLISHED

2020-06-06

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• Magellan launches the next generation of Active ETFs, bringing together the features of an unlisted fund and Active ETF into a single unit in a single fund

• Provides investors with greater choice and flexibility in how they invest and will deliver efficiencies to fund managers

Magellan Financial Group Limited ("Magellan") is pleased to announce that the Airlie Australian Share Fund (Ticker: AASF) will commence trading on the ASX today.

Brett Cairns, Magellan's CEO, said today: "The launch of Airlie Australian Share Fund on the ASX represents an important evolution of Active ETFs in Australia. This simplification eliminates the need to have two separate funds, one for investors who prefer using unlisted funds and another for those who prefer funds quoted on a stock exchange. Instead, investors, advisers and brokers will now be able to invest in a single, open-ended fund using the access point they prefer."

"Magellan has always focussed on simplifying the investment process for our investors and reducing unnecessary frictions and costs. We intend to use these next generation open-ended funds to deliver effective investor solutions in the future."

Matt Williams, portfolio manager for the Airlie Australian Share Fund, said: "The Airlie Australian Share Fund is a product of the partnership between Magellan and Airlie Funds Management. Airlie's approach to investing has been developed over 25 years and employs a conservative and robust process that weighs the financial strength, business quality, quality of management and valuation of each company. We are excited to make Airlie's investing expertise accessible to investors through the ASX."

The Airlie Australian Share Fund (Ticker: AASF) is the fourth Active ETF launched by Magellan and has outperformed the Australian market by 6.6% net of fees over the 12 months to 31 May 2020*.

With around A$2.5 billion in funds under management and over 35,000 unitholders, Magellan's Active ETFs have been widely adopted by investors who benefit from:

• The ability to buy and sell units on the stock market and settle via CHESS;

• Access to real time and transparent market pricing;

• Active portfolio management;

• Efficient pricing due to the open-ended nature of the Fund; and

• A high level of liquidity with the Fund providing liquidity to investors.

Live webinar: Airlie Australian Share Fund market briefing

Magellan will be holding a live webinar at 12pm (AEST) on Wednesday, 10 June, with Brett Cairns and Matt Williams covering the new one unit fund structure as well as providing an update on the Airlie Australian Share Fund and how it has performed during covid-19.

A recording of the webinar will be available at www.airliefundsmanagement.com.au and www.magellangroup.com.au.

About the Airlie Australian Share Fund

The Airlie Australian Share Fund's investment objective is to provide long-term capital growth and regular income through investment in Australian equities.

The Airlie investment process is a conservative and robust process proven over the long-term and assesses companies on four key criteria: financial strength; business quality; quality of management; and valuation.

The Fund typically holds between 15 and 35 quality Australian equities - Airlie's best ideas. The maximum cash holding is 10% with an aim to be fully invested. The partnership between Airlie and Magellan offers Airlie's experience in Australian equities with Magellan's operational and client service expertise. Further information can be obtained from www.airliefundsmanagement.com.au.

For further information please contact:

Sarah Thorne Investor Relations +61 2 9235 4844

Marcia Venegas Company Secretary +61 2 9235 4897

Lucy Briggs Media Relations +61 2 9235 4824

*The Airlie Australian Share Fund has returned 2.7% p.a. since inception on 1 June 2018, outperforming the Australian market by 0.9% p.a. over that period. Past performance is not necessarily indicative of future performance.

About Airlie Funds Management

Airlie Funds Management ('Airlie') is a specialist Australian equities fund manager that brings together some of Australia's most experienced industry participants. Airlie has an active, value-based investment style that aims to deliver attractive long-term capital growth and regular income to its investors. Founded by John Sevior and David Cooper in 2012 and headquartered in Sydney, Airlie manages approximately A$7.1 billion of funds under management at 29 May 2020 across a range of Australian equities strategies, primarily for institutional and high net wealth clients. Airlie is a wholly-owned subsidiary of Magellan Asset Management Limited.

About Magellan

Magellan is a specialist funds management business established in 2006 and based in Sydney, Australia. Magellan's core operating subsidiary, Magellan Asset Management Limited, manages approximately A$98 billion of funds under management at 29 May 2020 across its global equities, global listed infrastructure and Australian equities strategies for retail, high net worth and institutional investors and employs over 130 staff globally. Magellan is listed on the Australian Securities Exchange (ASX Code: MFG) and has a market capitalisation of approximately A$10 billion. Further information can be obtained from www.magellangroup.com.au.

Important Information: Units in the Airlie Australian Share Fund ("Fund") 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, the amount or timing of any return from the Fund, or that the investment objectives of the Fund 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 read the Fund's Product Disclosure Statement (PDS) prior to making any investment decisions. The PDS for the Fund is available at www.airliefundsmanagement.com.au or can be obtained by calling 02 9235 4760.

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