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.