Minimum initial investment:
$25,000

A concentrated portfolio of outstanding
global businesses
with competitive
advantages and the potential for sustained

superior growth.



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Overview

Investment Strategy

Polen’s Global Growth strategy seeks to achieve long-term growth by building a concentrated portfolio of outstanding global businesses. Polen Capital (Polen) believe that consistent earnings growth is the primary driver of intrinsic value and long-term stock appreciation. Polen invests in companies they identify as having a durable earnings profile driven by a sustainable competitive advantage, superior financial strength, proven management teams and powerful products/services. By thinking and investing like a business owner and taking a long-term investment approach, Polen believe that clients will best benefit from steady compounding returns generated by the companies held in the portfolio.

Polen Capital embeds ESG analysis into its comprehensive review of a company. Read Polen Capital's commitment to ESG

Why invest

  • Global growth strategy with a strong emphasis on sustainable earnings growth
  • Focus on companies with high returns on capital and double-digit earnings growth
  • Concentrated portfolio of approximately 30 high-quality growth companies
  • Low portfolio turnover with long-term holding periods typically exceeding five years
  • Embedded ESG analysis in a comprehensive review of a company


Fund Profile

Number of holdings 25-30
Style Growth
Benchmark MSCI ACWI Net Total Return Index, in AUD dollars
Fund fact sheet Download

Investment Manager

Montgomery Investment Management has partnered with Polen Capital to manage the investment management function.

Sub Investment Manager: Polen Capital Management, LLC

Founded in 1979, U.S. based Polen Capital is a high-conviction growth investment manager. The firm’s established team manages US$61 billion in total assets and their longest-running flagship investment strategy has delivered on average double digit annual returns for more than 30 years.

About the fund See all videos

 

Roger joined Portfolio Manager Damon Ficklin to discuss the Fund’s recent performance, current market conditions and the Fund’s outlook. Damon covers why he doesn’t expect any of these external factors to have a meaningful long-term impact on the high-quality growth businesses owned by the Fund and how short-term share price movements may not always reflect fundamentals and earnings growth by portfolio companies.

 

Head of the Large Company Growth Team and the lead portfolio manager of the firm’s Global Growth strategy, Damon Ficklin introduces Polen Capital and provides an overview of the investment philosophy and approach to building a concentrated portfolio of outstanding global businesses.

Performance

**Combined Strategy and Fund Performance to 31 October 2022 (After all fees)
AUD Polen Capital Global Growth Fund launched 15/03/2021

Class A

PERFORMANCE CHART
LATEST UNIT PRICE
FUND PERFORMANCE
INCOME DISTRIBUTION
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Most Recent Unit Price* DOWNLOAD HISTORY

Buy
0.9295
Redeem
0.9248
Mid
0.9272

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

-7.96%
Polen Capital Global Growth Fund (Australia)
7.61%
MSCI ACWI Net Total Return Index
-15.57%
Out/Under Performance
  Polen Capital Global Growth Fund MSCI ACWI Net
Total Return Index
Out/Under Performance
1 month 5.18% 6.62% -1.44%
3 months -4.69% 0.78% -5.47%
6 months -2.77% 0.67% -3.44%
1 year  -20.62% -5.98% -14.64%
Since inception (15 March 2021)  -7.96% 7.61% -15.57%

 

  Polen Capital Global Growth Strategy** MSCI ACWI Net
Total Return Index
Out/Under Performance
Compound Annual Return Since Inception (31 December 2014) 11.38% 9.82% 1.56%
Since inception (31 December 2014) 132.55% 108.24%  24.31%

 

Any income distributions are paid annually (as at 30 June each year) and can be reinvested in full or paid out entirely. There may be periods when net income could be negative and no distribution is made. 

**Source: Montgomery/Archer. The Fund’s inception date is 15 March 2021. Performance for prior periods is based on the actual performance of the Polen Capital Global Growth strategy managed by Polen Capital since 31 December 2014, adjusted for fees and converted to AUD and assumes all distributions are reinvested. The Fund invests using the identical strategy to the Polen Capital Global Growth Strategy and is advised by the same investment management team managing to the same investment objectives. Past performance is not a reliable indicator of future performance.

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

The Polen Capital Global Growth Fund invests using an identical strategy to the Polen Capital Global Growth strategy. Past performance is not a reliable indicator of future performance.

The issuer of units in the Polen Capital Global Growth Fund (ARSN: 647 518 723) is the Fund’s responsible entity Fundhost Limited (ABN 69 092 517 087) (AFSL: 233045). 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 and at https://fundhost.com.au/

An investment in the Fund 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 Fund you should consider the PDS and TMD in full.

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.

You should not base an investment decision simply on past performance. The investment returns of the Fund are not guaranteed, and so the value of an investment may rise or fall.

Investment Team

Polen Capital has been dedicated to serving investors by providing concentrated portfolios of the highest quality companies for more than three decades. Polen is passionate about its mission to protect and grow its clients’ capital while identifying unique opportunities to access, and invest in, the most sustainable and exceptional businesses worldwide.

Polen has a culture of making a meaningful difference in the lives of investors entrusting the firm with their financial well-being.

The Large Company Growth team which manages the Polen Capital Global Growth Fund, comprises six portfolio managers and five analysts.

Meet our people

Damon Ficklin

Head of Team, Portfolio Manager & Analyst
Read Bio +

Jeff Mueller

Portfolio Manager & Analyst
Read Bio +

HOW TO INVEST

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

1

Complete the online application form and ID verification online on the Olivia123 platform
(approx. 10 minutes)

2

Submit the completed application form online to the Administrator

3

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

TWO POLEN GLOBAL STRATEGIES ONE ONLINE APPLICATION

Launch Polen Capital Online Application

Select between Polen Global Growth Fund or Polen Global Small and Mid Cap Fund, or a combination of both

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

If you wish to make an additional investment (top-up) an existing investment in the Polen Capital Global Growth Fund, please see the instructions here.

Not ready to invest?

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

INSIGHTS Subscribe to insights

November 17, 2022

Quality’s performance across the business cycle

By Polen Capital

Quality stocks have been shown in studies to have robust historical performances. 1 This analysis takes a deeper look into the Quality factor’s performance by breaking out its history into the four stages of the business cycle: Early, Mid, Late, and Recession.
October 13, 2022

Three new buys from the Polen Capital Global Growth Fund

By David Buckland

As many of our readers would know, Montgomery Investment Management has partnered with US-based Polen Capital to manage the investment function of its Global Growth Fund. The Fund has used recent market volatility to add three quality businesses to its portfolio.
October 7, 2022

Know what you own: stocks vs. businesses

By Polen Capital

Successful business owners are often said to be able to feel the pulse of the companies they lead. For instance, great restaurateurs know what dishes are most popular on the menu, who their regular patrons are, when suppliers will deliver fresh ingredients, and how much revenue is needed to cover basic expenses such as salaries and rent.

Have More Questions?

FAQs

  • 1. Is this Fund suitable for me? – Target Market Determination (TMD)

    The Fund has a long-term objective and is suitable for those investors willing to assume high risk while seeking capital growth. Statistically, the major share markets produce a negative investment return, on average, every five years (or less) and investors must take the potential for capital loss into consideration. You can learn more in the Target Market Determination (TMD) here.

  • 2. What is the fund’s investment objective?

    The Polen Capital Global Growth Fund’s objective is to outperform the MSCI ACWI Net Total Return Index, in Australian Dollars, over a rolling five-year period, net of fees. Returns are not guaranteed.

    Polen Capital (Polen) believes that long-term thinking concentrates its focus on owning great businesses rather than buying and selling (trading) stocks for the short-term. Additionally, Polen believes that the share prices of the portfolio companies will be driven by the underlying earnings growth of the business over the long-term. This leads to a positive bias, in Polen’s opinion, toward relatively predictable businesses that can be estimated with conviction.

    Polen seeks to reduce risk – meaning risk of permanent capital loss – by investing in fewer, stronger businesses with competitive and financial strengths including little or no net debt and strong free cash flow generation. Polen does not try to make market predictions and hence the portfolios are close to fully invested at all times.

  • 3. How does the fund deal with currency hedging?

    Polen Capital does not hedge currency risk, and the belief is this would add cost and complexity to the portfolio without materially reducing risk of capital loss. Most investments are in larger capitalisation, multi-national and globally competitive companies that tend to earn revenues in several currencies. Many of these companies are also able to match local currency revenues and expenses or enjoy natural currency hedges or directly hedge currency exposure at the corporate level. Polen’s expectations are that currency volatility is unlikely to be a material source of risk or return in the portfolio over a typical holding period. 

  • 4. Where does the fund invest?

    Sector allocation is a residual of the stock selection process. Polen Capital typically seeks to limit a portfolio’s allocation to a single sector to approximately 50 per cent and a single industry to 25 per cent. The portfolios have historically had minimal exposure to the financial, industrial materials, utilities, telecom, real estate and energy sectors because businesses within these sectors tend to be capital intensive, cyclical and often heavily regulated and do not meet Polen’s strict requirements for consistency of earnings, free cash flow growth and steady high returns on invested capital.

    Country allocation is also a residual of the stock selection process. Typically, Polen invests in businesses in at least five countries and often ten or more. As much as possible, Polen invests in larger and more liquid companies. The stocks in the Polen Capital Global Growth Fund have a market capitalisation greater than US$5 billion.

  • 5. Does the fund hold a cash weighting?

    The portfolio is close to fully invested at all times; cash will be minimal.

  • 6. What is the minimum initial investment?

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

    You may also add to your initial investment through a lump sum additional investment, minimum of $5,000 which are generally processed daily. We also offer a 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.

  • 7. How often is income paid?

    Any income distributions are paid annually (as at 30 June) and can be reinvested in full back into the Polen Capital Global Growth Fund or paid out entirely to the financial institution account nominated on your application form. You can indicate your choice on the application form.

    If you do not make a choice, then distributions will be reinvested. Any distributions reinvested are reinvested at the ex-distribution mid-price.

    Distributions will not be paid by cheque. Distribution payments are typically made within 20 business days after the end of the distribution period. Distributions are not guaranteed.

  • 8. 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
    Login


    Unit prices are published each day on the website: Access Unit Prices

  • 9. How do I increase my holding?

    You can make a form-free additional investment via either BPAY or EFT. Find the full instructions here.

  • 10. How do I redeem my funds?

    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 investments 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 day’s price is 4pm Sydney time. Refer to the PDS for more information.

Have another question?

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