This Financial Services Guide (FSG) is an important document. It is designed to assist you in deciding whether to use any of the financial services and products offered by Montgomery Investment Management Pty Ltd ABN 73 139 161 701.
As an Australian Financial Services Licensee (AFSL No. 354 564), we are required to provide our retail investors with this FSG.
This FSG provides you with important information about:
This FSG is designed to help you understand our services and products before you use them or invest in them. Montgomery Investment Management Pty Ltd (Montgomery) operates an outsourced service provider model, which allows the key personnel to concentrate their time and energy on portfolio management, the discovery of stock opportunities and the communication with investors in the suite of Montgomery investment products.
Fundhost Limited (Fundhost) and Perpetual Trust Services Limited (Perpetual) act as responsible entities for some Montgomery funds and provide services including compliance, administration, and reporting services to Montgomery.
You will receive other disclosure documents as well if you use some of our products and services. You should read them carefully and consult with your licensed financial adviser if required.
Any financial services offered are provided by us or our representatives. We are part of Montgomery Investment Management, an investment management group based in Sydney, Australia. Montgomery was formed in 2010.
We do not act as a representative of any other licensee in relation to the services we provide you.
We are authorised to provide the following financial services with respect to the following financial products:
Giving general advice and dealing in, amongst other things:
National Australia Bank operates and provides custodial services or depository services to our managed investment schemes.
We are authorised to provide financial services to retail and wholesale clients.
Before you can invest in any of our retail financial products we are required to provide you with a PDS. The PDS contains important information regarding the features, benefits, risks and fees applicable to an investment in that financial product, and should be read carefully to enable you to make an informed decision about whether to invest in the financial product.
A SOA will normally be given to you when you are provided with any personal advice, which takes into account your objectives, financial situation and needs. We do not provide personal advice. Therefore, we will not provide you with an SOA.
An intermediary (such as a financial planner, stockbroker or dealer group) may provide you with an SOA.
Fundhost and Perpetual will seek to ensure that comprehensive and accurate records of all transactions and investments undertaken, and documentation executed, are properly maintained for the Montgomery funds for which they are responsible.
If you invest in a financial product we provide, we will receive remuneration in relation to your investment in the financial product. This remuneration may include management fees (including transaction and ongoing fees). Withdrawal fees and transaction fees may apply. We may also be entitled to recover expenses incurred. The remuneration and expense recoveries we will receive will be set out in the financial product’s PDS.
We do not receive any fees, nor do we charge you additional fees, for providing financial product advice.
Financial advisers and intermediaries may also receive fees from you and typically, this will be disclosed in their SOA. No commission will be paid by us to financial advisors in respect of any retail investor.
Our employees who give any retail investor general advice do not receive specific payments or commissions for the giving of that advice. These employees and our directors receive salaries, bonuses and other benefits from us.
Bonus payments and other benefits are discretionary, and based on achievement of predetermined objectives.
You may receive advice in relation to the products we offer from financial advisers that do not work for us. These advisers do not receive any commission from us. The adviser’s remuneration is added to the fees you may pay when investing in our products. Our fees plus those fees for the services provided by Fundhost and Perpetual including responsible entity, compliance, administration, custodian oversight and reporting services are set out in the PDS for the financial product. Your adviser is also required to set out the remuneration they receive in their FSG and SOA which they must give to you.
Various members of Fundhost and Perpetual and their directors and employees provide certain financial, information technology, human resource and other services to us to enable us to provide the services described in this FSG. They will not be separately remunerated by you. The costs of providing these services will be paid by us from the fees we receive. Investors in our products will not pay a separate fee for these services.
Where you have been referred to us via a third party IDPS platform, we may pay a rebate to that IDPS platform provider.
Fundhost, Perpetual and Montgomery have professional indemnity insurance cover in place in respect of financial services provided to our clients. This insurance covers claims in relation to the conduct of our past and present representatives. These arrangements comply with the requirements of section 912B of the Corporations Act 2001.
We do not have any relationships or associations which might influence us in providing you with our financial products and services.
Your right to privacy is important to Fundhost, Perpetual and us. A statement explaining your privacy rights and our rights and obligations in relation to your personal information is contained in the PDS for each of our financial products.
Both FundHost and Perpetual have established procedures for dealing with complaints.
If an investor has a complaint, they can contact the relevant Responsible Entity or Montgomery during business hours.
Contacting Perpetual - Responsible Entity for Montgomery Global Equities Fund and Montaka Global Equities Fund
Please contact the Responsible Entity on 02 9229 3874 or alternatively write to the Responsible Entity at Level 18, 123 Pitt St, Sydney NSW 2000. Perpetual will use reasonable endeavours to deal with and resolve the complaint within a reasonable time but in any case, no later than 45 days after receipt of the complaint.
If you are not satisfied with how your complaint was handled and require further resolution you can contact the Investment Manager or the Australian Financial Complaints Authority (AFCA) on the contact details provided below.
Contacting Fundhost - Responsible Entity for The Montgomery Fund, Montgomery Alpha Plus Fund, The Montgomery [Private] Fund, Montgomery Global Fund and Montaka Global Access Fund
In the first instance, you can make a complaint by calling +61 2 8223 5400 or by writing to Fundhost Limited, PO Box N561, Grosvenor Place, NSW 1219, Australia. Fundhost will acknowledge your complaint within 45 days of receipt. Complaints will be investigated with the aim to provide a response (if not a resolution to the complaint).
If you are ultimately dissatisfied with the outcome of your complaint you may refer the matter, free of charge, to the Australian Financial Complaints Authority (AFCA), which is an external dispute resolution scheme.
Australian Financial Complaints Authority
From 1 November 2018, AFCA will be the new external dispute resolution scheme for complaints involving financial services and products and will replace FOS.
The contact details for AFCA are:
Phone: 1800 931 678 (free call)
Mail: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001
More information about the Australian Financial Complaints Authority is available from their website: https://www.afca.org.au/
Perpetual Trust Services Limited
Montgomery Investment Management Pty Ltd