The Montgomery Fund

An open-ended unit trust aiming to achieve long-term growth by
investing in high quality Australian and New Zealand businesses
of any size trading at attractive valuations.
Minimum initial investment: $25,000.

INVEST NOW
Are you an Adviser? Please visit our adviser area for fund details.

Features

  • Invests in a concentrated high-conviction portfolio of 20 to 40 companies
  • Aims to outperform the S&P/ASX 300 Accumulation Index over a rolling 5-year period, net of fees
  • Investments can be added to or withdrawn daily (on Sydney business days)

Benefits

  • Can hold 30% of its portfolio in cash as a margin of safety
  • Distributions may carry imputation or other tax credits
  • Has returned 8.97% per annum, after all fees, since inception (as at 30 September 2020)

Inside the The Montgomery 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)

100.96%
The Montgomery Fund
88.99%
ASX 300 Accum. Index
11.97%
Out/Under Performance

Most Recent Unit Price*

See History
Buy
1.3485
Redeem
1.3417
Mid
1.3451

*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)

  The Montgomery Fund S&P 300 Accum. Index Out/Under Performance
1 month -2.15% -3.59% 1.44%
3 months 2.17% -0.06% 2.23%
6 months 11.46% 16.73% -5.27%
12 months -6.00% -9.96% 3.96%
3 years (p.a) 4.17% 4.94% -0.77%
5 years (p.a) 4.93% 7.42% -2.49%
7 years (p.a) 5.38% 5.98% -0.60%
Since inception 100.96% 88.99% 11.97%
Compound annual return 8.97% 8.15% 0.82%
The Montgomery Fund inception date is 17/08/2012. 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","The Montgomery Fund","ASX300 Accum. Index"],["17\/08\/2012",100000,100000],["31\/08\/2012",99720,99616],["28\/09\/2012",103850,101789],["31\/10\/2012",109720,104760],["30\/11\/2012",111240,105170],["31\/12\/2012",116880,108676],["31\/01\/2013",120648,114087],["28\/02\/2013",122402,120124],["28\/03\/2013",126490,117417],["30\/04\/2013",128860,122462],["31\/05\/2013",128190,116905],["28\/06\/2013",126330,114096],["31\/07\/2013",129030,120140],["31\/08\/2013",135610,123159],["30\/09\/2013",139260,125821],["31\/10\/2013",141670,130772],["29\/11\/2013",136040,128997],["31\/12\/2013",137140,130060],["31\/01\/2014",134760,126160],["28\/02\/2014",140490,132366],["31\/03\/2014",142650,132643],["30\/04\/2014",144230,134876],["31\/05\/2014",144860,135746],["30\/06\/2014",140940,133782],["31\/07\/2014",146670,139685],["31\/08\/2014",151320,140582],["30\/09\/2014",147810,133037],["31\/10\/2014",151955,138711],["30\/11\/2014",150312,134214],["30\/12\/2014",151420,136950],["31\/01\/2015",154394,141367],["28\/02\/2015",165971,151153],["31\/03\/2015",169570,151075],["30\/04\/2015",167066,148586],["31\/05\/2015",167563,149223],["30\/06\/2015",160297,141291],["31\/07\/2015",167473,147386],["31\/08\/2015",159961,136040],["30\/09\/2015",157946,132126],["31\/10\/2015",168170,137994],["30\/11\/2015",175183,137053],["31\/12\/2015",180714,140792],["31\/01\/2016",173631,133120],["29\/02\/2016",167550,130824],["31\/03\/2016",172670,137072],["30\/04\/2016",174240,141650],["31\/05\/2016",184484,146092],["30\/06\/2016",178254,142525],["31\/07\/2016",187031,151588],["31\/08\/2016",185696,149228],["30\/09\/2016",183477,149996],["31\/10\/2016",173341,146733],["30\/11\/2016",173579,150849],["31\/12\/2016",175787,157403],["31\/01\/2017",171423,156177],["28\/02\/2017",175991,159587],["31\/03\/2017",179228,164815],["30\/04\/2017",181685,166434],["31\/05\/2017",177181,161868],["30\/06\/2017",181237,162225],["31\/07\/2017",179311,162248],["31\/08\/2017",177455,163464],["30\/09\/2017",177777,163521],["31\/10\/2017",184729,170087],["30\/11\/2017",190493,172968],["31\/12\/2017",191923,176183],["31\/01\/2018",190088,175494],["28\/02\/2018",188825,176087],["31\/03\/2018",187820,169530],["30\/04\/2018",191420,175930],["31\/05\/2018",196760,178030],["30\/06\/2018",198090,183710],["31\/07\/2018",199510,186110],["31\/08\/2018",197920,188720],["30\/09\/2018",196750,186460],["31\/10\/2018",188480,174990],["30\/11\/2018",187570,171180],["31\/12\/2018",185190,170790],["31\/01\/2019",189110,177400],["28\/02\/2019",198750,188050],["31\/03\/2019",200350,189430],["30\/04\/2019",205670,194100],["31\/05\/2019",205180,197480],["30\/06\/2019",206750,204680],["31\/07\/2019",209190,210760],["31\/08\/2019",209610,205970],["30\/09\/2019",213790,209900],["31\/10\/2019",216870,209100],["30\/11\/2019",219840,215760],["31\/12\/2019",217750,211390],["31\/01\/2020",228680,221720],["29\/02\/2020",215760,204500],["31\/03\/2020",180300,161910],["30\/04\/2020",190060,176520],["31\/05\/2020",195400,184610],["30\/06\/2020",196690,189100],["31\/07\/2020",194740,190240],["31\/08\/2020",205370,196040],["30\/09\/2020",200960,188990]]
June 2020   
 Distribution per unit  0.0857 cents
 Reinvestment price  $1.2989
December 2019  
 Distribution per unit 1.5974 cents
 Reinvestment price $1.4389
June 2019 full year distribution  
Distribution per unit 8.5643 cents
Reinvestment price $1.3813
June 2018 full year distribution  
Distribution per unit 12.8559 cents
Reinvestment price $1.4082
June 2017 full year distribution  
Distribution per unit 2.1137 cents
Reinvestment price $1.4067
June 2016  
Distribution per unit 7.7190 cents
Reinvestment price $1.4047
June 2015 full year distribution  
Distribution per unit 13.0725 cents
Reinvestment price $1.3326
June 2014 full year distribution  
Distribution per unit 4.0489 cents
Reinvestment price $1.2874
June 2013  
Distribution per unit 7.2834 cents
Reinvestment price $1.1904

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

Units in The Montgomery Fund (ARSN: 159 364 155) 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 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 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. Who can invest in The Montgomery Fund?

    All individuals, families, companies, trustees, charities, custodians and advisers of self-managed super funds, with a minimum of $25,000 to invest are eligible to apply for The Montgomery Fund.

  • 2. 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

  • 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
    Login

  • 6. 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 days price is 4pm Sydney time. Refer to the PDS for more information.

  • 7. Do you pay any advisers remuneration?

    No commissions are paid by us to any financial advisers.

  • 8. What are the advantages of an actively managed fund?

    We have a feature article in our Knowledge Centre on this topic, please visit our Insights area: Learn About Investing

Have another question?

Latest Fund Insights

October 13, 2020

Why yield investors should take a look at Centuria

By Stuart Jackson

If you’re looking for a robust income stock, Centuria Capital Group (ASX:CNI) is worth considering. Centuria owns a suite of assets focused on property and investment bonds, and pays an annual yield of around 4. 3 per cent. Making this business even more appealing, is a share price that keeps heading in the right direction.
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October 1, 2020

The future is always clearest once it is in the past

By Roger Montgomery

In this article for Firstlinks Roger questions whether markets are really that expensive? For stock market transactions to occur, there must be a buyer and a seller.  Australia, like the US, has experienced a similar expansion of price to earnings multiples as a function of ultra-low interest rates and the migration out of cash and into growth assets.
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September 29, 2020

What do low interest rates mean for equity markets?

By Tim Kelley

The last 30-40 years has seen a dramatic shift down in interest rates for much of the developed world. For example, the ten-year government bond yields in Australia and the US have declined from around 14 per cent in the early 80s to more recently lie somewhere not unadjacent to zero.
Read Article
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September 23, 2020

How long will the shift in retail spending continue?

By Stuart Jackson

One of the thematics from the last few months has been the material change in retail spending. With COVID-19 related lockdowns and restrictions on population movement and activity, the ability to spend on services such as out of home entertainment and activities has been significantly curtailed.
Read Article
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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.

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Have you considered our other funds?

Montgomery Global Fund

  • GLOBAL
  • 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.