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Montgomery launches listed fund

23 November 2017 By Oksana Patron



Montgomery Global has launched its first open-ended quoted global equity fund, the Montgomery Global Equities Fund (MOGL), which will commence trading on the Australian Securities Exchange (ASX).

The fund would offer brokers, advisers, self-managed super funds (SMSFs) and other investors, who had previously found it challenging to invest in global businesses access to an actively managed portfolio of global companies with one trade.

Also, the fund would replicate the same strategy as the unlisted Montgomery Global Fund and would offer the strategy focused on “extraordinary under-valued global companies” with themes unavailable on the ASX, the company said.

It would target minimum annual distribution yield of 4.5 per cent, paid semi-annually.

The fund would also aim to generate long-term capital growth and outperform the MSCI World Net Total Return Index, in Australian dollars, over a rolling five-year period, net of fees.

According to Montgomery Global’s chief investment officer, Andrew Macken, the fund would appeal to investors who were trying to diversify away from “the narrow opportunity set in the Australian stock market”.

“We can invest across different geographies, industries and unlike many of our much larger peers, invest in businesses across the capitalisation spectrum,” he said.

“In fact, five of our biggest portfolios positions are in companies with less than a $10 billion market cap.”

“Furthermore, MOGL looks to preserve capital and grow wealth in an uncertain world. To achieve this, the fund will own high-quality global businesses, trading at attractive valuations and retain the ability to hold up to 30 per cent in the safety of cash.”

The company appointed Macquarie Equities as a market maker while Perpetual Trust Services was appointed as its responsible entity (RE).

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