Magellan Global Trust (ASX: MGG) is an investment trust incorporated in Australia. The objective of the fund is to deliver investors a target cash distribution of 4% per annum in the medium to long term. The fund will invest in a focused portfolio of 15-35 investments in leading global companies and up to 50% in cash and cash equivalents.
On 13 February 2019, the company stated through a release on the exchange about its Fund Update for the month of January 2019 as on 31st January 2019. Hamish Douglass and Stefan Marcionetti are the portfolio manager who manages the fund portfolio. For that, the company charges management & administration fee of 1.35% per annum. As per the report showcasing the update for the January 2019, the fund size happens to be A$1,735.1 million along with NAV price of $1.6414 per unit. The fund has an attractive distribution reinvestment plan with a 5% discount to the NAV per Unit in respect of the Target Cash Distribution. The Magellan Group will pay this discount.
The funds top ten holdings are namely: Alphabet Inc, Apple Inc, Facebook Inc-A, HCA Healthcare Inc, Kraft Heinz Co, MasterCard Inc, Microsoft Corp, Oracle Corp, Starbucks Corp, Visa Inc.
The January fund update also reflected that the company has 19% exposure towards Consumer Defensive, 9% exposure towards Health Care,15% exposure towards Internet & eCommerce, 18% exposure towards Information Technology, 4% exposure towards Consumer Discretionary, 9% exposure towards Payments, 3% exposure towards Financials, 3% exposure towards Infrastructure, 2% exposure towards Insurance sector, and rest 18% exposure towards cash.
However, in terms of the Geographical Exposure, the fund has its largest exposure into the U.S. markets with a stake of 47% followed by the emerging markets which accounted for its 14% stake, Western Europe with a share of 12% and ultimately the rest of the world with a 9% stake. The company maintained 18% of its assets in the form of cash.
Since inception, MGG Investment Portfolio has generated 12.1% returns per annum against the MSCI World Net Total Return Index returns of 7.7% p.a. Further, MGG reported a decent performance for January month wherein MGG Investment Portfolio delivered a 4.8% return in one month (as of 31 January 2019) as compared to MSCI World Net Total Return Index (AUD) returns of 4.1%, exhibiting growth of 0.7%. This outperformance has been marginal on account of the increased volatility witnessed in the financial markets.
Now, let us have a quick look at Magellan Global Trust’s stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $1.65, trading up by 1.227% during the day’s trade with a market capitalisation of ~$1.72 Billion. The counter opened the day at $ 1.64 and touched the day’s high of 1.65 and touched the day’s low of $ 1.635 with a daily volume of 737,871. The stock has provided a YTD return of 0.62% & also posted returns of -1.81%, -2.98% & -0.31% over the past six months, three & one-months period respectively. It had a 52-week high price of $ 1.800 and touched 52 weeks low of $ 1.440, with an average volume of 667,803 approximately.
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