In this video Roger Montgomery provides his key observations on The Montgomery [Private] Fund's investment approach, strategy to minimise risk and the qualities we look for in companies we invest in.
*this is a forward pricing fund, the price you receive is based on close of market prices.
|The Montgomery [Private] Fund||ASX 200 Industrials Accum. Index||Out/Under Performance|
|3 years (p.a)||8.72%||4.86%||3.86%|
|5 years (p.a)||7.35%||7.02%||0.33%|
|7 years (p.a)||9.09%||10.01%||-0.92%|
|9 years (p.a)||10.91%||11.30%||-0.39%|
|Compound annual return||9.82%||8.61%||1.21%|
|Distribution per unit||Reinvestment price|
(Payments to be made 08/07/2021)
|June 2020||3.8429 cents||$1.1091|
|June 2019||6.0173 cents||$1.2014|
|June 2018||12.0517 cents||$1.2036|
|June 2017||6.1093 cents||$1.2126|
|June 2016||17.2143 cents||$1.2534|
|June 2015||14.6151 cents||$1.2553|
|June 2014||4.4934 cents||$1.2346|
|June 2013||12.8334 cents||$1.1854|
|June 2012||2.8771 cents||$1.0263|
You should read the Information Memorandum before deciding to acquire the product.
Units in The Montgomery [Private] Fund are issued by the Funds trustee Fundhost Limited (ABN 69 092 517 087) (AFSL: 233045). Before making any decision to make or hold any investment in the Fund you should consider the Information Memorandum in full. 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.
Investors in The Montgomery [Private] Fund receive the full benefit of sixteen decades of experience spread across the six professional investors dedicated to the stewardship of your wealth. We have witnessed a broad variety of market conditions and a multitude of influences impacting the returns of investors. What we have learned is that a sensible approach has nothing to do with predicting the next market move, and everything to do with purchasing, at a rational price, an interest in a business whose earnings will be materially higher in the years to come.
Bachelor of Commerce. Senior Fellow, Financial Services Institute of Australia.
Roger is the founder of Montgomery Investment Management.
Roger brings more than two decades of investment and financial market experience, knowledge and relationships to bear in his role as Chief Investment Officer.
Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merill Lynch.
In 2010, Roger published his first book, the best-selling investment title Value.able. Buy it here.
Bachelor of Economics (Honours)
Stuart Jackson joined Montgomery as a Senior Analyst in June 2015 and is the Portfolio Manager of The Montgomery [Private] Fund.
Stuart previously spent 19 years in research roles with JP Morgan in Australia and in New York. Stuart was appointed Executive Director at JP Morgan in 2005 and for the past 8 years was Deputy Head of Research. Prior to this he worked as an analyst in the Australian Equities team at Bankers Trust Asset Management for 3 years.
Stuart is a CFA® charterholder and holds a Bachelor of Economics (Honours) majoring in economics and econometrics from the University of Melbourne.
After an initial discussion with Montgomery about investing in The Montgomery [Private] Fund:
Read the Information
Memorandum in full
Complete the application form and ID requirements and send this to the Administrator
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.
Please call David Buckland or Dean Curnow on 02 8046 5000 to discuss The Montgomery [Private] Fund in more detail.
July is a natural time for us to review the financial year just past – both in terms of The Montgomery Fund as well as the investment journey of the broader market. The 2021 financial year was unprecedented in many ways, not just because the last 12 months has seemed more like an extension of the initial COVID-19 fallout of the June 2020 quarter, but also because of the volatility witnessed in the broader market given the rapid pace of developments in a suddenly “less predictable” world.
The Net Asset Value (after expenses) is calculated weekly, every Thursday.
The Montgomery [Private] Fund’s portfolio is built up stock-by-stock. As each company that meets the Fund’s criteria is added, the portfolio should exhibit characteristics the average value of which is superior to the broader markets. As a consequence, the portfolio should also demonstrate below-average characteristics for business risk.
Also consequently, investment weightings will vary considerably from general industry benchmarks such as the S&P/ASX 200. Please refer to the Information Memorandum Section 3 for more information on the investment strategy and process.
A minimum initial investment of $1,000,000 is required. Montgomery Investment Management can waive this minimum at their discretion.
Investors can add to their initial investment at any time, through a lump sum additional investment, for which there is a minimum of $50,000. Additional investments will be processed weekly.
Any income distributions are paid annually (as at 30 June each year). Distributions can be reinvested in full back into the Fund 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. Generally, net income is difficult to predict, and the size of distributions may vary from year to year. There may be periods when net income could be negative and no distribution is made.
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:
To redeem your holding, simply fill out the Redemption Request form with the required notice period and have it signed by the authorised signatories on the account. Please see the manage my investments section.
Redemptions can be made semi-annually at 31 January and 31 July.
Withdrawal requests will be processed using the unit price effective for 31 July or 31 January (as appropriate).
Fundhost must receive your request by 4pm Sydney time 45 days before 31 July or 31 January (as appropriate).
Withdrawal requests at other times may be permitted but will attract a Redemption Levy of 0.5%, which is retained by the Fund. Please refer to the Information Memorandum Section 4 for more information.
No commissions are paid by us to any financial advisers.