Australian fund manager Magellan Financial is set to launch the currency hedged version of Magellan Global Equities Fund on 10 August 2015 under the ticker MHG.
The new currency hedged Magellan Global Equities Fund will aim to generate risk-adjusted investment returns over the medium to long-term, whilst minimising the risk of permanent capital loss.
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The fund will be seeded with a capital of A$15m from Magellan.
The new fund will provide investors access to Magellan’s global equities expertise while hedging the foreign currency exposure of the fund.
The fund will invest in a range of between 20 and 40 high-quality global equity stocks and it is likely to go for sale on 10th August 2015. It will manage equity market risk by holding up to 20% of its net assets in cash.
Magellan general manager of distribution Frank Casarotti said: "As on 31 July 2015 the fund has grown to over $257m and has approximately 4450 unit holders.
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By GlobalData"The Magellan Global Equities Fund (Currency Hedged) will give Australian investors a complementary choice to access our global equities expertise via a simple ASX-quoted solution."
