Airlie Australian Share Fund

Continuous Disclosure

31 January 2020

The following updates were advised to existing investors in the Fund by email or post (in accordance with the communication preference of each existing investor).

Notification of change to unit registry

From 14 February 2020, Link Fund Solutions will no longer provide unit registry services to the Fund. Instead, unit registry services will be provided by Mainstream Fund Services (“Mainstream”), an experienced registry who have provided services to Magellan Asset Management Limited (“Magellan”) for over 10 years. This change will result in changes to the mail, fax and email addresses for applications and redemptions, BPAY® and bank account details for applications, as well as your Investor Number.

Quotation of unit on Securities Exchange

Magellan is pleased to announce that it is seeking to have units in the Fund quoted on the securities exchange operated by the ASX under the ticker AASF. The Fund’s units are expected to commence trading on 28 February 2020.

If you are an investor in the Fund your holding of units will not change. You may continue to apply for and redeem units in the Fund in the same way that is offered today. There will be no change to the investment objectives of the Fund or to the fees charged to the Fund.

Commencement of trading of the Fund’s Units on the ASX will coincide with the initiation of an issuer sponsored sub-register. From that time you may move your units to your brokerage account and then trade your units on the ASX through your broker.

Replacement PDS

A replacement PDS will be made available on the Fund’s website prior to the date of quotation. The replacement PDS contains important information about the Fund and recommend that you read the PDS carefully.

1 November 2019

This notice provides important information for investors in the Airlie Australian Share Fund (Fund).  This update should be read together with the Fund's Product Disclosure Statement dated 22 May 2018 (PDS).

Change of Investment Manager Entity

From 1 December 2019, Magellan Asset Management Limited (Magellan) will replace Airlie Funds Management Pty Limited (Airlie) as the investment manager for the Fund.    Whilst the corporate entity acting as the investment manager will change from this date, the Fund’s portfolio managers will continue to be Matt Williams and Emma Fisher, who are both employees of Magellan.

Why is this change being made?

Airlie is a wholly-owned subsidiary of Magellan.  In order to maximise operational efficiencies, Magellan is being appointed as investment manager of the Fund, replacing Airlie.  Magellan will also continue to act as Responsible Entity of the Fund.

What do I need to do?

If you are an existing investor in the Fund, the transition to Magellan as the investment manager of the Fund will not result in any change to your unitholding and there is nothing that you will need to do.

If you are considering an investment in the Fund, please ensure you read this notice together with the Fund’s PDS.

25 October 2019

Set out below are the upcoming changes that impact Airlie Australian Share Fund (ARSN – 623 378 487).

1. Change to Payment Options - Additional Investments

• Removal of Direct Debit

From 1 December 2019, Magellan Asset Management Ltd (“Magellan”) will no longer be offering Direct Debit as a payment option for additional investments to Airlie Australian Share Fund.

BPAY^®, Electronic Funds Transfer (“EFT”) and Australian Dollar Cheque will continue as payment methods for additional investments. The minimum amounts for additional investments by these methods will remain unchanged at $500 for BPAY^® and $5,000 for EFT and Cheque.

2. Regular Monthly Investment Plan – cancellation

From 20 November 2019, the Regular Monthly Investment Plan (“Plan”) administered by means of Direct Debit will no longer be available. For those investors who currently have a Plan set up, the last Direct Debit from a nominated bank account will occur on this date. The easiest way for investors to either continue to, or start to, add to existing investments on a regular basis would be to set up a recurring BPAY^® payment with their financial institution.