We develop a novel type of functional fluid-magnetic microencapsulated phase change material (MMPCM) suspension which incorporates the advantages of microencapsulated phase change material (MPCM) suspension and magnetic fluid (MF) for controllable and efficient energy transport processes. The specific heat capacity and thermal conductivity of this type of functional fluid are experimentally investigated, respectively. The effects of the mass fraction of components in the MMPCM on the thermal properties of the fluid are discussed. In addition, the effect of an eternal magnetic field on the thermal conductivity of the fluid is discussed. (c) 2009 Elsevier B.V. All rights reserved.