Magellan Asset Management Limited (Magellan, our, us, we), in our capacity as responsible entity of the Airlie Small Companies Fund (ARSN 665 882 673) (Fund), has recently completed a review of the Fund and determined that the Fund has not reached sufficient scale to be sustainable over the longer term. On this basis, we have decided that it is in the best interests of unitholders to terminate the Fund. The termination of the Fund is effective from today, 27 July 2026 (Termination Date). Click here for more detailed information.