Magellan to wind up Vinva Global Equity Fund

Magellan Asset Management will wind up the retail Vinva Global Equity Fund after concluding the strategy has not reached sufficient scale to remain viable. The responsible entity set the fund’s termination for on or around 12 October. The fund had AUD165.3 million in assets under management at the end of August.

The Vinva Global Equity Fund was launched in October 2024 as part of a partnership between Magellan and quantitative manager Vinva Investment Management. The closure applies only to the retail strategy and does not affect Vinva’s institutional business.

The strategy was designed to outperform the MSCI All Country World ex Australia ex Tobacco ex Controversial Weapons Index, measured in Australian dollars. Since inception, the fund outperformed its benchmark by about 3.4 percentage points a year, according to the manager. Top holdings included Nvidia, Apple, Microsoft, Broadcom, Taiwan Semiconductor Manufacturing Company and Meta.

Magellan has continued to deepen its relationship with Vinva. In June, Vinva was appointed investment manager for the Magellan Global Fund Open Class Units Active ETF (ASX: MGOC) and for Magellan’s hedged global equity strategy. Magellan Financial Group currently owns 28% of Vinva, which manages more than $65 billion in assets.

Magellan first took a stake in Vinva in August 2024, acquiring a 29.5% interest when Vinva oversaw roughly AUD22 billion. The partnership has included transferring parts of Magellan’s retail investment operations to Vinva; in the final quarter of Magellan’s 2026 financial year, AUD1.3 billion of retail mandates were moved to Vinva, contributing to total reported outflows of AUD2 billion for the group in that period.

The wind-up affects only the retail Vinva Global Equity Fund. Investors in the product will receive further details from the responsible entity ahead of the estimated termination date on or around 12 October.