The Trust provides exposure to two underlying credit investment strategies, specifically a long-term target portfolio allocation of 50-60% to the Global Credit Opportunities Fund (‘GCOF’) and a long-term target allocation of 40-50% to the European Direct Lending (‘EDL’) investment strategy

MHH will replicate the Magellan High Conviction Fund (‘MHCF’), which has a 6.5 year track record and has performed strongly. The Trust is an extremely concentrated global equities mandate that historically, by way of MHCF, has been materially overweight to technology stocks

The methodological basis for the portfolio construction of the Index utilises a combination of time weighted performance, equal weighting diversification, valuation and a Solactive A200 Index filter (a replication of the S&P/ASX 200 Index), with all stocks outside the ASX 200 excluded

In Asia, the focus will be on companies listed in countries with a robust and reliable legal system, strong corporate governance and developed capital markets

The Manager announced a 1 for 1 pro-rata non-renounceable entitlement offer to existing unitholders. The Manager is seeking to raise up to a maximum $266m at an offer price of $1.60 through a maximum issue of 166m new units.