APPLICATIONS NOW OPEN

Minimum Investment $25,000


Access to a concentrated best ideas portfolio 
of high-quality global small and mid-cap companies with the potential to deliver sustained superior growth.

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Overview

The Polen Capital Global Small and Mid Cap Fund is a long only, small and mid cap global equities fund. The Fund typically invests in a concentrated portfolio of 25-35 high-quality companies within the global small and mid cap company universe.

Using the unique Polen Flywheel Framework, the Small Company Growth team analyses opportunities to uncover compelling long-term structural growth and determine if the right conditions are in place to identify companies that are well-positioned to deliver significant value over a five-year period.

The investment process is based on deep, balanced, and collaborative research across the eight member team, all located out of Polen Capital’s Boston office, with a focus on companies with high returns on capital and annualised double digit earnings growth. On valuation, research shows that every company Polen Capital owns has the potential to become at least two to five times the size that it is today.

And relative to its mega cap counterparts, with the weighted average market capitalisation of around US$8 billion the Polen Capital Global Small and Mid Cap Fund is expected to offer a concentrated portfolio of interesting fast-growing smaller companies with a huge potential global runway of growth ahead of them.

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

Fund Profile

Number of holdings 25 - 35
Style Growth
Benchmark MSCI ACWI SMID Cap Net Total Return Index, in AUD dollars
Fund fact sheet Download

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$71 billion in total assets and their longest-running flagship investment strategy has delivered on average double digit annual returns for more than 30 years.

WEBINAR RECORDING

Lead Portfolio Manager Rob Forker and Analyst Troy Renauld introduced the Polen Capital Global Small and Mid Cap Fund and provided an overview of the investment philosophy and process. Overall, the goal with this strategy is to deliver compelling double-digit returns with strong downside protection. You can watch the recording here.

About the fund See all videos

 

Introducing the Polen Capital Small and Mid Cap Fund

Portfolio Manager Rob Forker introduces the Polen Capital Small and Mid Cap Fund and provides an overview of the investment philosophy and process to invest in what Polen believe to be the best 25 to 35 companies in the world. Overall, the goal with this strategy is to deliver compelling double-digit returns with strong downside protection.

 

How the Polen Capital Small and Mid Cap Fund selects stocks

In this video Rob Forker discuss how the Polen team analyse opportunities in this exciting asset class. Underlying portfolio selection are the Polen guardrails and the flywheel investment process which in tandem, enable our investment team to identify high quality companies. A company example brings this to life.

Performance

The fund opened 21 October 2021, pricing is now updating on the website:

PERFORMANCE CHART
LATEST UNIT PRICE
FUND PERFORMANCE
INCOME DISTRIBUTION

Most Recent Unit Price* DOWNLOAD HISTORY

Buy
0.9532
Redeem
0.9484
Mid
0.9508

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

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. 

The issuer of units in the Polen Capital Global Small and Mid Cap Fund (ARSN: 652 035 642) 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 from Montgomery Investment Management (02) 8046 5000 or at www.montinvest.com 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 in full.

The information provided 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 any information provided and consider seeking advice from a 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 Small and Mid Cap Growth team comprises eight portfolio managers and analysts, all based out of Polen Capital’s Boston Office. The Small and Mid Cap Growth team is headed up by Tucker Walsh. Rob Forker is the Lead Portfolio Manager of the Polen Capital Global Small and Mid Cap Fund.

Meet our people

Tucker Walsh

Head of Team, Portfolio Manager & Analyst
Read Bio +

Rob Forker

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 Small and Mid Cap 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

POLEN CAPITAL - TWO GLOBAL STRATEGIES, ONE ONLINE

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.

Product Disclosure Statement and Applications

The Product Disclosure Statement and the fund information pack will be sent via email to people. 

If you would prefer to discuss the new fund, please call David Buckland or Toby Roberts from Montgomery Investment Management on 02 8046 5000 to discuss the Polen Capital Global Small and Mid Cap Fund in more detail.

INSIGHTS Subscribe to insights

November 11, 2021

Polen’s Rob Forker answers who are the most patient investors

By Polen Capital

While individual small-cap stocks can be seen as higher risk, investing in the small-cap space – a breeding ground for breakthrough businesses – can be a thrilling pursuit that offers meaningful upside potential. The flip side is that many of these businesses can burn bright and fade fast, carrying more risk.
November 3, 2021

Polen Capital Global Small and Mid Cap Fund has left the starting block

By David Buckland

The Polen Capital Global Small and Mid Cap Fund was launched on Thursday 21 October 2021, and at the time of writing, it has invested in 30 companies with a weighted average market capitalisation exceeding US$9 billion, across 12 countries. For context, this is a fraction of the big global names like Apple (US$2. 25 trillion), Microsoft (US$2.
October 28, 2021

Profiting from small brands with big reach

By Roger Montgomery

Packed the car and readying to take a re-opening road trip? Enjoyed a responsible G&T during lockdown?  If you have, you may be familiar with some of the brands I am about to discuss.   What you may not know is that these businesses, whose products you may already be using, are listed global small caps.
October 25, 2021

Better simpler strategy - how Etsy has survived and thrived

By David Buckland

In this blog, Professor Felix Oberholzer-Gee from the Harvard Business School, helps to explain how Etsy has survived and thrived from the potential Amazon onslaught. October 2015 was a dark period for Etsy, the prominent US online marketplace for handcrafted goods. Amazon had just launched “Handmade” which competed directly with Etsy’s business.

HAVE MORE QUESTIONS?

Frequently Asked Questions

  • 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 Small and Mid Cap Fund's objective is to outperform the MSCI ACWI SMID Cap Net Total Return Index, in Australian Dollars, over a rolling five-year period, net of fees. Returns are not guaranteed.

    Polen Capital believes that consistent earnings growth is the primary driver of intrinsic value growth and long-term stock price appreciation. Accordingly, efforts focus on identifying and investing in a concentrated portfolio of high-quality growth companies that can deliver sustainable, above average earnings growth. 

    Polen Capital invests in companies that have durable earnings profiles driven by sustainable competitive advantages, superior financial strength, proven management teams and leading products or services. Polen Capital believes such exceptional companies not only have the potential to contribute to outsized returns to the portfolio, but are also inherently less risky, as their greater earnings stability and financial strength offer a “margin of safety” that typically results in less volatility during declining markets. 

  • 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. 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?

    Country allocation is a residual outcome of the stock selection process. Typically, Polen Capital invests in businesses in at least five countries and often ten or more. 

    The current portfolio is based half in the US and Canada, 29% in Europe including the UK and 21% in Asia Pacific including Japan.

  • 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 Small and Mid Cap 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 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.

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