The Australian Eagle Trust, Long-Short Fund (the Fund) aims to provide capital growth over the long term through a leveraged investment in Australian shares. The Fund's objective is to outperform the S&P/ASX 100 Accumulation Index over 5 years[1].
Australian Eagle’s investment team seeks to buy superior quality stocks with a sensible risk buffer and hold those investments so that the longer-term advantages of those companies result in a superior rate of return. The investment process is designed to identify stocks that have the most characteristics of a superior company, whilst also offering a valuation edge. These superior companies can be characterised by quality management who are committed to shareholders, operate in a growing market, and have a long-term competitive advantage.
On the short side, Australian Eagle seeks to sell companies that do not display these characteristics or rank poorly on such characteristics compared to superior companies and exhibit poorer technical characteristics.
The Fund uses an index-independent approach and seeks diversification by investing in 25 to 35 stocks in the long portfolio and 12 to 25 stocks in the short portfolio. The Fund is generally 150% long and 50% short with a net 100% long position.
The process of finding companies is derived from a fundamental, bottom up-up research process, which Australian Eagle has consistently applied since 2004 for its long-only portfolios. The Fund typically invests in cash and cash equivalent instruments, Australian listed shares and other equity-like securities and may invest in derivatives.
The Fund is a unit trust that is a managed investment scheme which is registered with ASIC.
Why invest
Fund Risks
Generally, the higher the expected return of an investment, the higher the expected risk. Traditionally listed shares have generally been considered to be more volatile (will experience greater fluctuations in value) than fixed income, while fixed income has generally been more volatile than cash. Please review Page 19 of the PDS to review the Fund risks.
[1] Outperformance of the S&P/ASX 100 Accumulation Index is not guaranteed.
[2] Past performance is not indicative of future performance. Specific risks of the Fund may impact on the possibility of such a return in future.
| Style | Active (Long Short Equity) |
| Benchmark | S&P ASX 100 Accumulation Index |
| Fund fact sheet | Download |
| Target Market Determination (TMD) | Download |
Montgomery Investment Management has a Distribution Partnership with Australian Eagle Asset Management.
Investment Manager: Australian Eagle Asset Management Pty Ltd
Australian Eagle Asset Management (Australian Eagle) opened in Sydney in 2004 and specialises in Australian equities. The firm is owned and operated by its team and manages over $1 billion through two strategies: a domestic long-only strategy including Montgomery funds and the Australian Eagle Trust Long-Short Fund.
Australian Eagle's investment process seeks to buy superior quality Australian securities with a sensible risk buffer and hold those investments so that the longer-term advantages of these companies manifest in a superior rate of return. Superior companies are characterised by quality management who are committed to shareholders, operate in a growing market, and have a long-term competitive advantage. On the short side, the Fund seeks to sell stocks in companies that do not display these characteristics or rank poorly compared to the superior companies.
Total returns shown for the Australian Eagle Trust (ARSN 632 568 846) are net monthly returns calculated using exit prices after taking into account all of Australian Eagle Trust's ongoing fees as disclosed in the PDS and assuming reinvestment of distributions. No allowance has been made for taxation. Past performance is not indicative of future performance.
| Inception Date | 1 July 2016 |
| Investment Manager | Australian Eagle Asset Management Pty Limited |
| Objective | The Fund aims to provide capital growth over the longer term through a 6.1 leveraged investment in Australian securities. Commensurate with this, the objective of the Fund is to outperform the S&P/ASX 100 Accumulation Index over a period of 5 years. |
| Benchmark | S&P 100 Accumulation Index |
| Fund Construction | The Fund uses an index-independent approach and seeks diversification by investing in 25 to 35 stocks in the long portfolio and 12 to 25 stocks in the short portfolio. |
| APIR Code | ALR2783AU |
| Recommended Investment Timeframe | 5 years |
| Minimum Investment | A$20,000 |
| Minimum Additional Investment | A$5,000 |
| Fund Size | A$501M as at 31/10/2025 |
| Frequency of Pricing | The Fund is priced every Sydney business day. |
| Entry Fee | Nil |
| Exit Fee | Nil |
| Buy/Sell Spread | 0.30%/0.30% |
| Management Fee | 1.3868% per annum |
| Performance Fee | 20.5% of the total return of The Fund that is in excess of the Index. |
| Australian Eagle Trust Long Short Fund | S&P 100 Accum. Index | Out/Under Performance | |
|---|---|---|---|
| 1 month | -5.76% | -2.79% | -2.97% |
| 3 months | -3.54% | -3.70% | 0.16% |
| 6 months | -2.68% | 2.62% | -5.30% |
| 12 months | 3.98% | 4.23% | 0.26% |
| 3 years (p.a) | 4.54% | 9.41% | -4.87% |
| 5 years (p.a) | 10.11% | 10.14% | -0.02% |
| 7 years (p.a.) | 12.67% | 10.48% | 2.18% |
| Since inception | 223.57% | 141.19% | 82.38% |
| Compound annual return | 13.28% | 9.80% | 3.48% |
The Australian Eagle Trust Long Short Fund inception date is 01/07/2016. Total returns shown for the Australian Eagle Trust (ARSN 632 568 846) are net monthly returns calculated using exit prices after taking into account all of Australian Eagle Trust's ongoing fees as disclosed in the PDS and assuming reinvestment of distributions. No allowance has been made for taxation. Past performance is not indicative of future performance.
| Distribution per unit | Reinvestment price | |
| June 2025 | 6.4400 cents | $2.7864 |
| June 2024 | 6.9400 cents | $2.4445 |
| June 2023 | 4.4100 cents | $2.4041 |
| June 2022 | 4.5500 cents | $2.1955 |
| June 2021 | 1.5500 cents | $2.1605 |
| June 2020 | 1.7500 cents | $1.7237 |
| June 2019 | 5.7348 cents | $1.6648 |
| June 2018 | 7.232 cents | $1.4812 |
You should read the Product Disclosure Statement (PDS) before deciding to acquire the product.
The issuer of units in Australian Eagle Trust (ARSN 632 568 846) (Trust) is the Fund’s responsible entity The Trust Company (RE Services) Limited (ABN 45 003 278 831) (AFSL 235150), part of Perpetual Limited. Australian Eagle Asset Management Pty Limited (ABN 89 629 484 840) is the investment manager of the Trust.
The Product Disclosure Statement (PDS) contains all of the details of the offer. Copies of the PDS and Target Market Definition (TMD) are available to download from this page.
An investment in the Trust must be through a valid paper or online application form accompanying the PDS. Before making any decision to make or hold any investment in the Trust you should consider the PDS and TMD in full.
This is general information only and is not intended to provide you with financial advice and has been prepared without taking into account your investment objectives, financial situation or particular needs. You should consider your own investment objectives, financial situation and particular needs before acting upon any information provided and consider seeking advice from a financial advisor if necessary.
You should not base an investment decision simply on past performance. Past performance is not an indicator of future performance. Returns are not guaranteed and so the value of an investment may rise or fall. No company in the Perpetual Group (Perpetual Limited ABN 86 000 431 827 and its subsidiaries) guarantees the performance of any fund or the return of an investor’s capital.
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