Magellan High Conviction Trust

The Trust will replicate the investment strategy of the unlisted Magellan High Conviction Fund, which was established on 1 July 2013 and has achieved returns of 16.6% per annum net of fees since inception to 31 July 20191. The Trust will invest in a concentrated portfolio of 8 to 12 high quality global companies weighted towards Magellan's best investment ideas. Magellan will be the investment manager and act as the responsible entity of the Trust, with Hamish Douglass and Chris Wheldon acting as the portfolio managers.