Montgomery Global Fund

An All-cap global equity fund that invests in a concentrated high-conviction
portfolio of 15 to 30 businesses listed on major global stock exchanges.
Minimum initial investment: $25,000.

How to Invest
Are you an Adviser? Please visit our adviser area for fund details.

Features

  • Aims to outperform the MSCI World Net Total Return Index in Australian dollars over a rolling 5-year period, net of fees
  • Investments can be added to or withdrawn daily (on Sydney business days)
  • Unhedged, although hedging is permitted when warranted

Benefits

  • Provides access to quality global companies, including smaller companies that might be difficult to buy into
  • Can hold 30% of its portfolio in cash as a margin of safety
  • The potential to generate capital growth over the medium to long term as well as income from its investment in globally listed stocks

Inside the Montgomery Global Fund

 

Our Approach

Montgomery is focused on the ownership of high quality businesses – that can be purchased at attractive valuations – and generating superior returns over the long term. We are value investors committed to preserving and growing your capital. Read more about our investment approach.

Find Out More

FUND PERFORMANCE AND PRICING

Comparative Returns Since Inception to 30/09/2020 (After All Fees)

54.42%
Montgomery Global Fund
60.06%
MSCI World Net Total Return Index A$
-5.64%
Out/Under Performance

Most Recent Unit Price*

See History
Buy
1.1928
Redeem
1.1869
Mid
1.1899

*this is a forward pricing fund, the price you receive is based on close of market prices.

Fund Performance

Comparative Returns Since Inception to 30/09/2020 (After All Fees)

  Montgomery Global Fund MSCI World Net Total Return Index A$ Out/Under Performance
1 month -2.29% -0.38% -1.91%
3 months 2.64% 3.67% -1.03%
6 months 12.48% 10.00% 2.48%
12 months -1.56% 3.89% -5.45%
3 years (p.a) 7.67% 11.04% -3.37%
5 years (p.a) 8.67% 10.02% -1.35%
Since inception 54.42% 60.06% -5.64%
Compound annual return 8.63% 9.37% -0.74%
Montgomery Global Fund inception date is 01/07/2015. Performance is net of fees and assumes distributions are reinvested, which is industry standard. Past performance is not an indicator of future performance.
Performance Chart
Income Distribution
[["date","Montgomery Global Fund","MSCI World Net Total Return Index A$"],["1\/07\/2015",100000,100000],["31\/07\/2015",104490,105480],["31\/08\/2015",101860,102210],["30\/09\/2015",101910,99276],["31\/10\/2015",107380,105461],["30\/11\/2015",104650,103322],["31\/12\/2015",103010,101094],["31\/01\/2016",100874,97761],["29\/02\/2016",99010,96096],["31\/03\/2016",97780,95280],["30\/04\/2016",96430,97561],["31\/05\/2016",103950,103350],["30\/06\/2016",100980,99426],["31\/07\/2016",103571,101520],["31\/08\/2016",105600,102754],["30\/09\/2016",105569,101450],["31\/10\/2016",104320,100049],["30\/11\/2016",109914,104523],["31\/12\/2016",111713,109205],["31\/01\/2017",109280,106677],["28\/02\/2017",112560,108253],["31\/03\/2017",116290,110267],["30\/04\/2017",121750,114144],["31\/05\/2017",124470,117091],["30\/06\/2017",121020,114078],["31\/07\/2017",119622,112229],["31\/08\/2017",121506,113124],["30\/09\/2017",123726,116915],["31\/10\/2017",130378,121906],["30\/11\/2017",134189,125794],["31\/12\/2017",131611,123746],["31\/01\/2018",132345,125840],["28\/02\/2018",133956,125348],["31\/03\/2018",134656,124486],["30\/04\/2018",137778,128034],["31\/05\/2018",143345,128529],["30\/06\/2018",145511,131563],["31\/07\/2018",146569,134842],["31\/08\/2018",151181,140323],["30\/09\/2018",148270,141036],["31\/10\/2018",139733,133409],["30\/11\/2018",136785,130952],["31\/12\/2018",132271,125506],["31\/12\/2019",137988,130606],["28\/02\/2019",148585,137880],["31\/03\/2019",150754,139907],["30\/04\/2019",160455,146206],["31\/05\/2019",151167,139957],["30\/06\/2019",156766,147288],["31\/07\/2019",157821,150702],["31\/08\/2019",156485,151015],["30\/09\/2019",156859,154069],["31\/10\/2019",159650,154664],["30\/11\/2019",165164,161921],["31\/12\/2019",165671,160473],["31\/01\/2020",173214,167478],["29\/02\/2020",163788,159196],["31\/03\/2020",137287,145507],["30\/04\/2020",138956,150888],["31\/05\/2020",144697,156009],["30\/06\/2020",150451,154391],["31\/07\/2020",151541,155314],["31\/08\/2020",158044,160673],["30\/09\/2020",154418,160064]]
June 2020  
Distribution per unit  2.3207 cents
Reinvestment price  $1.1037
June 2019  
Distribution per unit  15.5592 cents
Reinvestment price $1.1742
June 2018  
Distribution per unit 7.5200 cents
Reinvestment price $1.2344
June 2017  
Distribution per unit 12.0993 cents
Reinvestment price $1.0892

You should read the Product Disclosure Statement (PDS) before deciding to acquire the product.

Units in the Montgomery Global Fund (ARSN: 604 883 418) are issued by the Fund’s responsible entity Fundhost Limited (ABN 69 092 517 087) (AFSL: 233045). Copies of the PDS are available by downloading them from this web page. Before making any decision to make or hold any investment in the Fund you should consider the PDS in full. An investment in the Fund must be through a valid application form attached to the PDS. You should not base an investment decision simply on past performance. Past performance is not an indicator of future performance. The investment returns of the Fund are not guaranteed, and so the value of an investment may rise or fall.

The information provided is general in nature and does not take 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 this information and consider seeking advice from a licensed financial advisor if necessary.

How to Invest

After accessing the Product Disclosure Statement and reading in full the investment objectives and risks of investing in the Montgomery Global Fund:

1

Complete the online application form and ID verification online (approx. 10 minutes)

2

Scan the signed application form and send to the Administrator via email

3

Transfer the funds and an investment confirmation will be issued by the Administrator

For assistance completing the application form, you can speak directly with the Administrator, Fundhost Limited on 02 8223 5400.

Want to invest in your personal super instead?

Our partnership with industry-leading superannuation provider, NetWealth, can help.

Net Wealth

NOT READY TO INVEST YET?

Download the fund information pack or if you would prefer to talk it over, call David Buckland or Toby Roberts on 02 8046 5000 to discuss the Montgomery Global Fund in more detail.

Download the Fund Info Pack
02 8046 5000
David Buckland
Chief Executive Officer
david buckland
Toby Roberts
Account Manager – Private Clients
Toby Roberts Thumbnail

Have More Questions?

Frequently Asked Questions

  • 1. What is the investment strategy of the Montgomery Global Fund?

    The Montgomery Global Fund will typically invest in an all-cap portfolio of 15 to 30 high quality businesses listed on major global stock exchanges with a focus on North America, Western Europe, the United Kingdom, Japan, Hong Kong, Singapore and Australia. 

    If an insufficient number of individual company names are appealing in terms of the prevailing share price relative to the Montgomery Global’s assessment of their intrinsic value, we may consider the overall market ‘expensive’ and in an effort to preserve the market value of the portfolio, may allow the cash component of the portfolio to build.

    While cash may represent as much as 30% of the Fund this limit can be exceeded during periods of relatively high cash inflows or during periods when the Montgomery Global investible universe is unappealing in terms of margin of safety or in anticipation of extreme market dislocation.

    Montgomery Global may, on occasion, hedge the Fund against movements in the Australian Dollar and other currencies, but the default position is to remain unhedged.

  • 2. How is the Montgomery Global Fund different to the Montgomery Global Equities Fund (ASX:MOGL)?

    Montgomery Global Fund is an unlisted managed fund that issues you with units. 

    Montgomery Global Equities Fund (ASX:MOGL) is a listed fund, quoted on the ASX, and issue investors with units that can be traded at any time through an online trading account or through a stock broker.


    While they are completely different trusts under separate investment vehicles, both funds share the same common investment strategy and we expect that performance will closely follow the equivalent listed Montgomery Global Equities Fund (ASX:MOGL), as it maintains the same investment strategy, investment process and substantially the same portfolio.

  • 3. What is the minimum initial investment?

    A minimum initial investment of $25,000 is required.

    You may also arrange to add to your initial investment through a lump sum additional investment, for which there is a minimum of $1,000, or direct debit monthly savings plan, requiring a minimum investment of $500 per month. This is processed on the 15th of each month or the next business day.

  • 4. How often is income paid?

    Any income distributions are paid semi-annually (as at 30 June and 31 December each year) and can be reinvested in full or paid out entirely to the financial institution account nominated on your application form. We distribute all taxable income to investors each year, including any taxable capital gains. Distributions may also carry imputation or other tax credits. There may be periods when net income could be negative and no distribution is made.

  • 5. How can I see my unit balance and investment value online?

    Our administrator, Fundhost, has a portal that investors can access to see their balance and download all statements. Once invested, you will be given registration details. Access the Fundhost client log in here: Log In.

  • 6. How do I redeem my investment?

    To redeem your holding, simply fill out the Redemption Request form and have it signed by the authorised signatories on the account. Please see the manage my investment section.

    If Fundhost are paying to a bank account they have on file, they can accept a faxed or scanned copy of the redemption instruction. In normal circumstances, redemptions are processed daily, with funds generally received back to the investor within 2 business days. The cut off to receive your redemption request to receive that days price is 4pm Sydney time. Please refer to the PDS for more information.

  • 7. Can I invest my personal superannuation in the fund?

    If you do not have an SMSF and want to invest your personal superannuation into the Montgomery funds, you can find out about our partnership with industry-leading superannuation provider, netwealth in more detail on this page: Investing your personal super

  • 8. Do you pay any brokers/advisers remuneration?

    No commissions are paid by us to any financial advisers or brokers.

Have another question?

Latest Fund Insights

October 12, 2020

Dissecting the hype around US sports betting

By Lachlan MacKay

Plenty of noise has been generated in the US online sports betting space this year. DraftKings stock has grown +400 per cent year-to-date, Penn National +170 per cent and Australia’s Pointsbet +150 per cent. The excitement is around an expected $20-30 billion addressable market, growing from around $1 billion in 2019.
Read Article
Share
October 9, 2020

Our thoughts on the Ant Group IPO – Part I

By Daniel Wu

Chinese payments and fintech giant Ant Group is expected to IPO in October at a valuation exceeding US$200 billion. Being investors in Alibaba Group, which owns 33 per cent of Ant, it was imperative for us to form a view on the Ant business.
Read Article
Share
October 2, 2020

Investment and speculation

By George Hadjia

For centuries there have been speculators hoping to find the path of least resistance to wealth and riches. Stock markets as an asset class have proven potential to create immense wealth, but are an open arena for both the speculator and investor.
Read Article
Share
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.
Read Article
Share

THINK FOR YOURSELF.
WE DO.

At Montgomery, we’re independent thinkers who look past market noise to focus on the long-term prospects for companies. We don’t follow the herd. Subscribe now to receive our articles, whitepapers and insights.

Subscribe

Have you considered our other funds?

The Montgomery Fund

  • AUSTRALIA/NZ
  • Concentrated high conviction equities
  • From $25,000
Learn More

Montaka Global Access Fund

  • GLOBAL
  • Access long/short global equity portfolio
  • From $50,000
Learn More

Montgomery Global Equities Fund (ASX:MOGL)

  • GLOBAL
  • Concentrated high conviction equities
  • No minimum investment - see your broker limits
Learn More

Montgomery Small Companies Fund

  • AUSTRALIA/NZ
  • Concentrated high conviction equities
  • From $25,000
Learn More
Close

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.