Our Private Office

Montaka Global
130/30 Fund

This strategy offers investors the full benefits of our best long and short ideas with a full net exposure to the market. The Montaka Global 130/30 fund is a daily priced Australian unit trust with a minimum investment of a million dollars.

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

Features

  • We combine long and short positions to arrive at a portfolio which typically remains at approximately 130% long, 30% short, to result in a net market exposure of a 100%.
  • We own some of the world's high quality businesses with strong competitive advantages, well positioned in attractive growing industries, that are undervalued today.
  • We manage a short portfolio of global businesses facing structural headwinds, which are misperceived, overvalued, and carry asymmetric risks to the downside.

Benefits

  • The extension strategy strives for maximised upside return and offers investors the full benefits of our best long and short ideas with a full net exposure to the market. 
  • The Fund is designed for investors who want full 100% net exposure to global equity markets, while also leveraging the stock selection expertise of the Montaka investment team.
  • Daily liquidity allowing investors to enter or exit each Sydney business day.

Inside the Montaka Global 130/30 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 31/08/2020 (After all fees)

7.2%
Montaka Global 130/30 Fund
11.5%
MSCI World Net Total Return Index (AUD)

Most Recent Unit Price*

See History
Buy
3.3704
Redeem
3.3536
NAV
3.3620

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

Fund Performance

Comparative Returns Since Inception to 31/08/2020 (After all fees)

  Montaka Global 130/30

MSCI World Net Total Return Index (AUD)

1 month 7.8% 3.5%
3 months 19.5% 3.0%
6 months  3.5% 0.9%
12 months  7.5% 6.4%
Since inception 7.2% 11.5%
The Montaka Global 130/30 Fund inception date is 15/05/2019. 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
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June 2020 distribution   
Distribution per unit  0.0499 cents
Reinvestment price  $3.2090
June 2019 full year distribution  
Distribution per unit 0.099861 cents
Reinvestment price $3.3640

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

Units in the Montaka Global 130/30 Fund (ARSN: 632 941 238) are issued by the Fund’s responsible entity Perpetual Trust Services Limited ACN 000 142 049, AFSL 236 648. 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 an initial discussion with Montgomery about investing in the Montaka Global 130/30 Fund:

1

Read the Product Disclosure Statement in full

2

Complete the online application form and ID verification online (approx. 15 minutes) and submit the completed application form to the Administrator online

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, Mainstream Fund Services on 1300 133 451.

FOR FURTHER INFORMATION

Please call David Buckland or Dean Curnow on 02 8046 5000 to discuss the Montaka Global 130/30 Fund in more detail.

Discuss Investing
02 8046 5000
David Buckland
Chief Executive Officer
david buckland
Dean Curnow
National Account Manager
dean curnow

Have More Questions?

Frequently Asked Questions

  • 1. Where does the Montaka Global 130/30 Fund invest?

    The Montaka Global 130/30 Fund is usually limited to stocks listed on major global stock exchanges with a focus on North America, Western Europe, the United Kingdom, Japan, Hong Kong, Singapore and Australia.

    The fund’s typical activity includes investing in 15-30 high conviction extraordinary businesses when they are undervalued, whilst also (short) selling 25-40 stocks based on our proprietary framework that classifies them into at least one of the following categories: (i) thematic structural declines, (ii) divergent expectations; (iii) asymmetries; and/or (iv) misperceptions. The net exposure (long exposure minus short exposure) to the market would typically remain at approximately 100 percent at all times.

  • 2. What is the investment strategy for the Montaka Global 130/30 Fund?

    The Fund will typically operate in a way that provides investors “net market exposure” (long minus short positions) of 100% (+/- 10%) by holding 130% Long Portfolio (+/- 5%) and 30% Short Portfolio (+/- 5%).

    As an example, The Fund uses cash to purchase $100 in shares it believes to be undervalued. The Fund also borrows $30 worth of shares it believes to be overvalued and sells them. The Fund uses the proceeds from these sales to purchase an additional $30 in stocks The Fund judges to be undervalued. This strategy results in $130 invested in long positions and $30 invested in short positions, resulting in $100 net market exposure.

    When borrowed securities are sold for the Short Portfolio, the Fund receives cash from these sales, which it can use to acquire more securities for the Long Portfolio. The Short Portfolio, therefore, provides leverage. The Fund will typically operate with gross leverage of 160% (+/- 10%) of the net asset value of The Fund. Please refer to “Disclosure Principle 6: Leverage” for more information.

    The Fund maintains a portfolio which is carefully constructed to manage investment and currency risk.

  • 3. What type of investor is the Montaka Global 130/30 Fund suitable for?

    The Fund is designed for investors who want full 100% net exposure to global equity markets, while also leveraging the stock selection expertise of the Montaka investment team. Furthermore, the Fund offers global equity and currency diversification benefits.

    The Fund’s typical net market exposure (long exposure minus short exposure) is 100%; and the typical gross leverage (long exposure plus short exposure) is 160%. On this basis, the Fund is not appropriate for investors seeking material downside-protection in a declining equity market environment. Furthermore, given the Fund’s gross leverage, returns may be more volatile than those of the Benchmark.

  • 4. How often does the Montaka Global 130/30 Fund price?

    Daily. Investors can add to their initial investment on a daily basis (with payment and applications required by the Unit Registry by 3pm Sydney time).

    Minimum additional investment is A$5,000.

  • 5. 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.

    Distribution payments are typically made within 20 business days after the end of the distribution period.

    We distribute all taxable income to investors each year, including any taxable capital gains. Distributions may also carry imputation or other tax credits. If there is no net income or net capital gains earned in a particular year, the Fund may not pay a distribution in respect of that year.

    In some circumstances, the Fund may distribute a payment out of capital in addition to, or instead of, a distribution of net income or net capital gains.

    The default option is for distributions to be reinvested. Investors can elect to be paid in cash by completing the ‘Distribution payment instructions’ section of The Fund’s application form. Distribution payments are typically made within 20 business days after the end of the distribution period. Distributions will not be paid by cheque.

  • 6. What are the fees?

    Entry Fee
    There is no fee.

    Exit Penalty/Fee
    There is no fee.

    Management Fee
    Capped at 0.93% of the gross asset value of the General Class.

    Performance Fee
    The performance fee for the General Class is 20% of the amount by which the performance of the class, after fees and ordinary expenses have been deducted, exceeds the Benchmark return at the end of the calculation period (being 30 June 2019, and semi-annually thereafter) and has achieved positive performance. It is calculated daily and paid semi-annually in arrears.

  • 7. How can I see my unit balance and investment value online?

    Our administrator, Mainstream Fund Services, has a portal that investors can access to see their balance and download all statements. Once invested, you will be given registration details.

  • 8. How do I redeem my funds?

    Redemption requests are required to be received by the Unit Registry by 3pm Sydney time (via post, fax or email).

    The redemption request must be signed by the investor or authorised signatories and must specify the investor number, amount (in dollars or units) and account name, BSB number and account number of the bank account to which payment is to be made.

    Investors should note that redemption proceeds will only be paid into the original account in the name of the investor from.

Have another question?

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Our Funds

Concentrated High Conviction Equities

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Global
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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

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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.
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Montaka Global Fund

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