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Features
- Aiming to outperform the MSCI World Net Total Return Index in Australian dollars over a rolling 5-year period, net of fees
- Typically invests in a high conviction portfolio of 15 to 30 businesses
- Targets a distribution rate of at least 4.5% per annum, paid semi-annually
Benefits
- Provides access to an actively managed portfolio of attractively valued companies listed on global share markets via a single trade
- Can hold up to 30% in the safety of cash
- Easily accessed via a stockbroker or online share trading account using ASX:MOGL
Inside the Montgomery Global Equities Fund (ASX:MOGL)
Introduction
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.
FUND PERFORMANCE AND PRICING
Comparative Returns Since Inception to 31/07/2019
16.69%
Montgomery Global Equities Fund
19.56%
MSCI World Net Total Return Index A$
-2.87%
Out/Under Performance
Estimated *INAV
* The iNAV reflects the estimated NAV per Unit updated for foreign exchange movements in the Fund's portfolio stocks by individual stock domicile and is also updated in respect of stocks that have live market prices during the ASX Trading Day. If there are no stocks held by the Fund that have live market prices during the ASX Trading Day, movements in the iNAV will only reflect foreign exchange movements. The iNAV will not be updated for market-based movements such as movements in stock market indices.
The iNAV is provided by Interactive Data and is updated during Australian Securities Exchange trading hours. It is indicative and for reference purposes only, and is subject to Interactive Data’s terms and conditions of use.
Fund Performance
| Montgomery Global Equities Fund | MSCI World Net Total Return Index A$ | Out/Under Performance | |
|---|---|---|---|
| 1 month | 0.52% | 2.32% | -1.80% |
| 3 months | -1.89% | 3.07% | -4.96% |
| 6 months | 14.07% | 15.39% | -1.32% |
| 12 months | 7.12% | 11.76% | -4.64% |
| Since inception | 16.69% | 19.56% | -2.87% |
| Compound annual return | 10.04% | 11.71% | -1.67% |
Montgomery Global Equities Fund (Managed Fund) inception date is 20/12/2017. Portfolio Performance is calculated after fees and costs, including the investment management fee and performance fee, but excludes the buy/sell spread. All returns are on a pre-tax basis.
You should not base an investment decision simply on past performance. Returns are not guaranteed and so the value of an investment may rise or fall.
You should not base an investment decision simply on past performance. Returns are not guaranteed and so the value of an investment may rise or fall.
Performance Chart
Income Distribution
| June 2019 | |
| Distribution per unit | 16.9 cents |
| Reinvestment price | $3.5317 |
| December 2018 | |
| Distribution per unit | 7.1 cents |
| Reinvestment price | $3.1264 |
| June 2018 | |
| Distribution per unit | 8.6 cents |
| Reinvestment price | $3.5283 |
You should read the Product Disclosure Statement (PDS) before deciding to acquire the product.
Units in Montgomery Global Equities Fund (Managed Fund) (ARSN: 621 941 508) are issued by the Fund’s responsible entity Perpetual Trust Services Limited ACN 000 142 049 (AFSL 236648). 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. 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 Montgomery Global Equities Fund (Managed Fund):
1
Through a broker or share trading account: Purchase units directly through your stockbroker or online broker with the ticker code MOGL
2
OR Through your financial adviser: Request units with the ticker code MOGL
3
An investment confirmation will be issued by the Unit Registry Service, Link Market Services.
Want to invest in your personal super instead?
Our partnership with industry-leading superannuation provider, NetWealth, can help.
NOT READY TO INVEST YET?
Download the fund information pack or if you would prefer to talk it over, call David Buckland or Dean Curnow on 02 8046 5000 to discuss the Montgomery Global Equities Fund (Managed Fund) in more detail.
02 8046 5000
David Buckland
Chief Executive Officer
Dean Curnow
Account Manager
Have More Questions?
Frequently Asked Questions
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1. What is the investment strategy of the Montgomery Global Equities Fund?
Montgomery Global Equities Fund (Managed 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 the mandated maximum cash holding is 50% of the portfolio, it is not envisaged that the Fund would reach such a level absent an extreme market scenario. The practical maximum cash weighting of the Fund is 30%; and the practical minimum is 0 - 5%
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.
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2. What is the minimum initial investment?
You can purchase units in MOGL via your trading account or through your preferred broker subject to their minimum and brokerage fees.
Please note, Montgomery is not a broker and as such cannot facilitate the buying or selling of MOGL units via the ASX.
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3. How often is income paid?
Distributions are targeted to be paid semi-annually, being; end of calendar year and end of financial year. They should be received within 20 business days of each end of period.
Like an unlisted managed fund, the distributions might include income and realised capital gains of the fund and any additional amounts of cash, income or capital.
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4. How can I see my unit balance and investment value online?
Our Unit Registry, Link Market Services, 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 Link Market Unit Registry here:
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5. How do I redeem my investment?
You can sell units in MOGL via your trading account or preferred broker, just like you would a share on the ASX.
Investors do not need to complete any paperwork or submit a redemption form. Settlement of the sale of units will occur in the same way as the sale of listed securities via the ASX CHESS settlement service on a T+2 cycle.
Please note Montgomery is not a broker and as such cannot facilitate the buying or selling of MOGL via the ASX.
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6. 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
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7. Do you pay any brokers/advisers remuneration?
No commissions are paid by us to any financial advisers or brokers.
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8. What are the advantages of an actively managed Exchange Traded Managed Fund?
An active Exchange Traded Managed Fund (ETMF) is, most simply, a managed fund that is traded on a stock exchange such as the ASX. They are built like managed funds, but trade like shares, meaning that pricing is transparent and they can be bought and sold during any trading day just like ordinary shares.
Active ETMFs share many similarities with exchange traded funds (ETFs) but have one key difference: ETFs are “passively managed” and aim to track a particular benchmark or index, whereas ETMFs are “actively” managed by fund managers with the aim of outperforming a relevant benchmark.
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