Montgomery Lucent's investment philosophy is guided by fundamental research and analysis. Small market capitalisation companies are relatively under-researched and when markets misprice securities, this creates investment opportunities. Montgomery Lucent is seeking to build a portfolio of high quality, undervalued small and emerging companies with strong growth potential. We are searching for companies likely to benefit from secular trends, industry change and with substantial competitive advantages.
| Number of holdings | 30-50 |
| Style | Growth & Value |
| Benchmark | S&P/ASX Small Ordinaries Accumulation Index |
| Fund fact sheet | Download |
| Target Market Determination (TMD) | Download |
Montgomery Lucent, a joint venture between Lucent Capital Partners and Montgomery Investment Management, is the investment manager. Lucent Capital Partners is owned by its founders Gary Rollo and Dominic Rose.
We are incredibly pleased to announce the Montgomery Small Companies team have been nominated for Zenith’s Rising StarAward for 2022. This is a great acknowledgment of the investment calibre and track record Gary and Dominic are building.
Gary Rollo joins Scott Phillips to share insight into the investment philosophy of the Montgomery Small Companies Fund. Gary identifies why they are looking for companies or sectors that are going through change to harness the journey of the business going from small to bigger to big.
Portfolio Manager, Dominic Rose, and Head of Distribution, Scott Phillips, reflected on the key developments and decisions from the 2025 financial year and discussed how changing market conditions shaped the Fund’s positioning and outlook.
*this is a forward pricing fund, the price you receive is based on close of market prices.
| Inception Date | 20 September 2019 |
| Investment Manager | Montgomery Lucent Investment Management Pty Ltd |
| Objective | The Fund aims to outperform the S&P/ASX Small Ordinaries Accumulation Index over a rolling 5 year period. The Fund may not be successful in meeting this objective. Returns are not guaranteed. |
| Benchmark | S&P/ASX Small Ordinaries Accumulation Index |
| Fund Construction | The Fund typically invests in a portfolio of 30 to 50 companies listed on the ASX and NZX. |
| APIR Code | FHT3726AU |
| Recommended Investment Timeframe | 5 years |
| Minimum Investment | A$25,000 |
| Minimum Additional Investment | A$5,000 |
| Fund Size | A$284.1M as at 30/09/2025 |
| Frequency of Pricing | The Fund is priced every Sydney business day. |
| Entry Fee | Nil |
| Exit Fee | Nil |
| Buy/Sell Spread | 0.30%/0.30% |
| Management Fee | 1.22% per annum |
| Performance Fee | 17.94% of the total return of The Fund that is in excess of the Index. |
| Montgomery Small Companies Fund |
S&P/ASX Small Ordinaries Accum. Index |
Out/Under Performance | |
|---|---|---|---|
| 1 month |
4.64% |
3.44% |
1.20% |
| 3 months |
17.62% |
15.31% |
2.31% |
| 6 months |
30.19% |
25.25% |
4.94% |
| 12 months |
24.22% |
21.50% |
2.72% |
| 3 years (p.a.) |
19.92% |
15.54% |
4.38% |
| 5 years (p.a.) |
10.90% |
9.27% |
1.63% |
| Since inception |
94.55% |
50.62% |
43.93% |
|
Compound annual return |
11.67% |
7.03% |
4.64% |
Montgomery Small Companies Fund inception date is 20/09/2019. Performance is net of fees and assumes distributions are reinvested, which is industry standard. Past performance is not an indicator of future performance.
| Distribution per unit | Reinvestment price | |
| June 2025 | 4.6193 cents | $1.4675 |
| June 2024 | 0.2438 cents | $1.3667 |
| June 2023 | 0.7777 cents | $1.1276 |
| June 2022 | 2.6168 cents | $1.0066 |
| June 2021 | 7.8912 cents | $1.4415 |
| June 2020 | 0.00 cents |
You should read the Product Disclosure Statement (PDS) before deciding to acquire the product.
The issuer of units in Montgomery Small Companies Fund (ARSN 635 229 533) (Fund) is the Fund’s responsible entity Fundhost Limited (ABN 69 092 517 087) (AFSL 233045). The Fund’s investment manager is Montgomery Lucent Investment Management Pty Limited (ABN 58 635 052 176, Authorised Representative No. 001277163). Copies of the PDS and Target Market Definition (TMD) are available to download from this page and at https://fundhost.com.au/
An investment in the Fund must be through a valid paper or online application form accompanying the PDS. Before making any decision to make or hold any investment in the Fund you should consider the PDS and TMD in full.
The information provided 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 any information provided and consider seeking advice from a financial advisor if necessary.
You should not base an investment decision simply on past performance. Past performance is not an indicator of future performance. Returns are not guaranteed and so the value of an investment may rise or fall.
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