Latest Insights

September 9, 2020

How much upside is left for NXT?

By Gary Rollo

When we started the Montgomery Small Companies Fund 12 months ago, data centre operator NEXTDC (ASX:NXT) was one of the first businesses we bought.  On our analysis, the shares were cheap.   One year on and the share price has almost doubled.
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September 3, 2020

ServiceNow: mission-critical, with no competition

By Andrew Macken

The digital transformation of the enterprise is a long-term trend which is now accelerating as a direct consequence of the COVID-19 pandemic. Privileged business models operating with the benefit of this structural tailwind, therefore, should be considered carefully for an investment opportunity.
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September 3, 2020

Why we continue to like Reece Limited

By Stuart Jackson

The share price of Reece (ASX:REH) – Australia’s biggest supplier of plumbing and bathroom products – has outperformed the broader market for many years. Encouragingly, the company recently reported healthy trading during the COVID-19 period. With renovation activity forecast to rise over the next 12 months, I think this is definitely a business that investors should be watching.
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September 2, 2020

Redbubble – A COVID-19 winner with global ambitions

By Joseph Kim

With more than six months of COVID-19 disruptions behind us, there have been some clear winners emerging as a result of changes in spending patterns and the shift to online. One such business has been Redbubble – a growing online marketplace providing print-on-demand products based on user-submitted artwork.
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September 1, 2020

Why small businesses can grow at a faster rate than large businesses

By David Buckland

While small company shares demonstrate greater volatility than big company shares, over longer time frames they tend to deliver higher returns. Over the short-term they can involve more risk because of their lower liquidity, their sensitivity to management’s decision-making and their sensitivity to general economic conditions.
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August 27, 2020

Is the sun rising or setting on Facebook?

By Andrew Macken

The conventional wisdom today is that Facebook is a mature behemoth that is under intensifying risk of being penalised in a multitude of possible ways by regulators. It is certainly a behemoth. The scale of Facebook really is quite difficult to imagine.
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August 26, 2020

APE and SUL make hay from our newfound spending habits

By Roger Montgomery

What do A. P. Eagers Automotive (ASX:APE) and Super Retail Group (ASX:SUL) have in common? Well, for starters, these firms have seen their revenues turbo charged by our changed spending habits since the start of Australia’s COVID-19 travel restrictions.
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August 26, 2020

The firms that beat expectations this reporting season – and those that missed

By Roger Montgomery

The majority of companies on the ASX100 and ASX200 have now reported. Many have beaten estimates. And, reassuringly, guidance is less negative than most market watchers had expected. This brings hope that FY21 may not be so bad for equity investors after all. One pattern has emerged from this reporting season and we may have run theory to thank.
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August 25, 2020

Reliance Worldwide continues to reward investors

By Roger Montgomery

Reliance Worldwide (ASX:RWC), a global provider of water control systems and plumbing solutions, is a business we’re very happy to own. True to its name, the company’s latest earnings announcement was extremely positive, which led to a strong bounce in the share price.
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August 24, 2020

Winning in the age of enterprise digital transformation

By Andrew Macken

COVID-19 has proved challenging for many investors, but the pandemic is also accelerating a long-term structural trend that presents significant investment opportunities – the digital transformation of enterprises. Flashback a few months and it’s easy to see how this unfolded. Almost overnight, entire workforces began working remotely and demand for digital collaboration tools skyrocketed.
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August 20, 2020

Five companies likely to benefit from a COVID-19 vaccine

By Roger Montgomery

As with everything else, there are two camps when it comes to investment conditions today. There are two camps regarding whether the market is expensive (it probably is), whether economic conditions are deteriorating or improving, whether governments and central banks can continue Keynesian intervention indefinitely, and there’s two schools of thought as to whether there’ll be a vaccine.
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Our Funds

Concentrated High Conviction Equities

Listed

Montgomery Global Equities Fund (ASX:MOGL)

Global
Available on the ASX as an Exchange Traded Managed Fund, invests in 15 to 30 quality global businesses for long-term capital growth with a target distribution yield of 4.5% per annum. Mirrors the strategy of the Montgomery Global Fund.
Unlisted From $25,000

Montgomery Global Fund

Global
Invests in 15 to 30 quality global businesses for long-term capital growth. Priced daily. Mirrors the strategy of the Montgomery Global Equities Fund (ASX:MOGL).
Unlisted from $25,000

The Montgomery Fund

Australia/NZ
Aims to provide long-term growth and income by investing in 20 to 40 high-quality Australian and New Zealand businesses trading at attractive valuations. Priced daily.
UNLISTED FROM $25,000

Montgomery Small Companies Fund

Australia/NZ
Aims to provide long-term growth by investing in 30 to 50 high quality, undervalued, Australian and NZ small and emerging companies with strong growth potential. Priced daily.
Unlisted from $1 Million

The Montgomery [Private] Fund

Australia/NZ
Seeks to deliver absolute returns from a portfolio of high-quality Australian and New Zealand businesses. Capital preservation is paramount. By invitation only.

Alternate Equity Strategies

New Fund

Montaka Global Extension Fund (ASX: MKAX)

GLOBAL
An ASX-quoted managed fund, typically, the Fund seeks to hold 15 to 30 long positions and partially offsets these with 10 to 40 short positions, operating with 130% exposure to its long portfolio and 30% exposure to its short portfolio, resulting in a net market exposure of around 100%. Features a target distribution yield of 5% per annum.
Unlisted from $50,000

Montaka Global Access Fund

Global
Aims to generate materially higher risk-adjusted returns, net of fees, than is generally available in the equities market over the medium term. Priced monthly. Provides retail investors access to the Montaka Global Fund.
Unlisted from $1million

Montaka Global 130/30 Fund

Global
Provides the opportunity to benefit from both the gains of extraordinary businesses and the declines of deteriorating businesses through a global equity active extension strategy, which has the potential to significantly outperform the broader equities market over time. Seeks to generate double-digit annual average returns, net of fees. Daily priced.
Unlisted From $1 Million

Montaka Global Fund

Global
Aims to generate materially higher risk-adjusted returns, net of fees, than is generally available in the equities market over the medium term. By invitation only.