ASIC moves to deregister Magellan and Cordis investment funds

The Australian Securities and Investments Commission (ASIC) has given notice that it will deregister two managed investment schemes — the Cordis Global Medical Technology Fund and the Magellan Global Equities Fund (Currency Hedged) — two months after the publication of the notice. The decision was published in the Commonwealth of Australia Gazette (ASIC Gazette) No. A36/26 of Tuesday 8 September 2026, under the “Company/scheme deregistrations” section.

The notice is issued under subsection 601PB(2) of the Corporations Act 2001 and is dated 4 September 2026. Under that provision, ASIC may deregister the listed schemes two months after publication of the notice, unless it is given acceptable reason not to proceed. The deregistration affects investors in two prominent funds, one focused on global medical technology and the other on currency-hedged global equities.

The schemes affected

The two schemes named in the notice are identified by their Australian Registered Scheme Number (ARSN):

• Cordis Global Medical Technology Fund — ARSN 648 060 913
• Magellan Global Equities Fund (Currency Hedged) — ARSN 606 840 206

Both funds are listed in the same deregistration notice, which appears on page 70 of the gazette. No further details on the reasons for deregistration are given in the published notice.

What deregistration means

Deregistration of a managed investment scheme under the Corporations Act removes the scheme from the register maintained by ASIC. The two-month window set out in the notice gives the responsible entity or any interested party the opportunity to object before the deregistration takes effect.

If no acceptable reason is provided within that period, ASIC may proceed to deregister the schemes. Investors in the affected funds should be aware that the notice marks the formal step towards the schemes being wound down and removed from the register.

Rights of review

Persons affected by decisions made by ASIC under the Corporations Act may have rights of review. ASIC has published Regulatory Guide 57 (Notification of rights of review, RG 57) and Information Sheet ASIC decisions – your rights (INFO 9) to assist affected parties in determining whether they have a right of review. Copies are available from the ASIC Digest, the ASIC website at www.asic.gov.au, or from the Administrative Law Co-ordinator in the relevant ASIC office.

The deregistration of two well-known funds underscores the regulatory scrutiny applied to managed investment schemes in Australia. For investors in the Cordis Global Medical Technology Fund and the Magellan Global Equities Fund (Currency Hedged), the two-month period is the key deadline to raise any objection before the schemes are formally deregistered.

Source: ASIC Gazette (Commonwealth of Australia Gazette), No. A36/26, 8 September 2026, Company/scheme deregistrations, p. 70 (official reference: Corporations Act 2001, subsection 601PB(2)).