Key Highlights

  • The active fund holds 34 infrastructure companies, with the top ten at 46.21%.
  • Utilities (46.15%) and Industrials (35.73%) lead, and Real Estate holds 13.48% against 7.37% for the category.
  • The management fee is 1.05% and the fund size is $435.10 million.
  • The July 2026 distribution of $0.350 is far above the $0.055 paid in July 2025.

Magellan Infrastructure Fund (Currency Hedged) - Active ETF (ASX:MICH) has a primary objective of achieving a risk-adjusted return over the medium to long term while reducing the risk of permanent capital loss. The fund was admitted to the ASX on 22 July 2016 and last traded at $3.00 on 13 October 2026. It reports a fund size of $435.10 million.

Detail

Information

Ticker

ASX:MICH

Fund

Magellan Infrastructure Fund (Currency Hedged) - Active ETF

Category

Equity Global Infrastructure - Currency Hedged

Benchmark

S&P Global Infrastructure NR Hdg AUD

Fund size

$435.10 million

Management fee

1.05%

Total holdings

34

ASX admission date

22 July 2016

Holdings

The ten largest positions represent 46.21% of the fund. Aena leads at 7.06%, followed by United Utilities (4.85%), Cellnex Telecom (4.82%), Severn Trent (4.69%) and Vinci (4.34%). Crown Castle (4.23%), CMS Energy (4.12%), Xcel Energy and Evergy (4.06% each) and National Grid (3.94%) complete the list.

Cash is 1.63% and stocks 98.37%. Every holding exceeds $1 billion in market capitalisation.

Sector and country exposure

Utilities holds 46.15%, below the 52.57% category weighting, Industrials 35.73% against 27.74% and Real Estate 13.48% against 7.37%. Energy holds 4.65%, against 11.43%.

The United States accounts for 40.88%, below the 46.89% category figure. The United Kingdom holds 13.72%, Spain 13.42%, France 9.49% and Australia 7.18%. The Netherlands holds 5.42% and Canada 5.26%, against 10.26% for the category.

Fee, risk and distributions

The management fee is 1.05% a year. The fund reports a beta of 1.05 and a standard deviation of 17.51. The final distribution of $0.350 per unit had an ex-date of 1 July 2026, a record date of 2 July and payment on 21 July.

That is far above the $0.056 paid in January 2026, $0.055 in July 2025 and January 2025, and $0.057 in July 2024.

Category classification and liquidity

Morningstar places the fund in the Equity Global Infrastructure - Currency Hedged category, which covers funds investing primarily in listed or unlisted infrastructure securities issued by global entities focused on managing, owning or operating infrastructure and utilities assets, with currency risk predominantly hedged as a neutral position.

Liquidity indicators add a further view. There are 147,491,273 units on issue, and average daily trading volume is 196,561 units. Over the five sessions from 7 to 13 October 2026, daily volume ranged from 78,200 to 277,700 units, with 82,813 recorded on 13 October while the market was still open. The bid-offer range stood at $2.98 to $3.10, and the day range at $2.98 to $3.00. These figures change through the trading day and reflect market activity rather than the fund's holdings.

Recent announcements

The issuer lodged Units on Issue and Monthly Redemptions for September 2026 on 7 October and the August 2026 Fund Update on 8 September. A Change of Address notice followed on 4 September, and the 2026 Annual Financial Report on 28 August.

Closing Perspective

MICH combines an active, hedged infrastructure strategy with a 1.05% fee, well above the 0.15% and 0.20% charged on index-based hedged infrastructure funds. Its July distribution was several times its earlier payments. These facts describe the fund and do not forecast outcomes.