Business
Magellan simplifies global funds with complex restructure – The Australian Financial Review
Magellan has retained its faith in closed-end funds, even as it has sought to simplify its global equities offerings.
Closed-end funds such as listed investment trusts and listed investment companies have been much maligned, and were the subject of a federal government review.
While that review focused on incentives, the lingering weakness of closed-end funds is that they tend to trade at discounts to the underlying value of the assets.
Some financial planners have argued that even more simplification could have been achieved if Magellan dispensed with the closed-end component altogether.
Magellan says the n…
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