The Polen Capital Global Small and Mid Cap Fund is a long only, small and mid cap global equities fund. The Fund typically invests in a high conviction portfolio of what Polen believes to be 50-80 high-quality companies within the global small and mid cap company universe.
The team’s investment philosophy centres on the belief that accelerating growth in revenue and earnings is the primary driver of stock price appreciation over the long term. As a result, the team believes opportunities can be realised by identifying and exploiting key inflection points in a company’s fundamentals as markets are often slow to react to fundamental improvements in a business.
The investment process is based on deep, balanced, and collaborative research across the four member team with a focus on companies with strong and sustainable growth prospects.
Polen Capital embeds ESG analysis into its comprehensive review of a company. Read Polen Capital's commitment to ESG.
| Number of holdings | 50 - 80 |
| Style | Growth |
| Benchmark | MSCI ACWI SMID Cap Net Total Return Index, in AUD dollars |
| Fund fact sheet | Download |
| Target Market Determination (TMD) | Download |
Montgomery Investment Management has partnered with Polen Capital to manage the investment management function.
Founded in 1979, U.S. based Polen Capital is a high-conviction growth investment manager. As of 2025, the firm’s established team manages over US$50 billion* in total assets and their longest-running flagship investment strategy has delivered on average double digit annual returns for more than 30 years.
*Asset figures include discretionary as well as non-discretionary assets.
Portfolio Manager Rob Forker introduces the Polen Capital Small and Mid Cap Fund and provides an overview of the investment philosophy and process to invest in what Polen believe to be the best 30 to 50 companies in the world. Overall, the goal with this strategy is to deliver compelling double-digit returns with strong downside protection.
Rob Forker discusses how Polen Capital analyses opportunities in the small and mid-cap asset class and shares insight on their flywheel framework for selecting stocks in the Polen Capital Global Small and Mid Cap Fund.
*this is a forward pricing fund, the price you receive is based on close of market prices.
| Inception Date | 21 October 2021 |
| Investment Manager | Montgomery Investment Management Pty Ltd |
| Sub-investment Manager | Polen Capital Management, LLC |
| Objective | The Fund aims to outperform the MSCI ACWI SMID Cap Net Total Return Index, in Australian Dollars, over a rolling five-year period, net of fees. |
| Benchmark | MSCI ACWI SMID Cap Net Total Return Index, in Australian Dollars |
| Fund Construction | The Fund typically invests in a concentrated portfolio of 25 to 35 high-quality companies within the global small and mid-cap company universe with the potential to deliver sustained superior growth. |
| APIR Code | FHT8533AU |
| Recommended Investment Timeframe | 5 years |
| Minimum Investment | $25,000 |
| Minimum Additional Investment | $1,000 |
| Fund Size | 19.8M |
| Frequency of Pricing | The Fund is priced every Sydney business day. |
| Entry Fee | Nil |
| Exit Fee | Nil |
| Buy/Sell Spread | 0.25%/0.25% |
| Management Fee | Up to 1.15% per annum |
| Performance Fee | 17.56% of the total return of The Fund that is in excess of the Index. |
| Polen Capital Global Small and Mid Cap Fund | MSCI ACWI SMID (AUD) | Out/Under Performance | |
|---|---|---|---|
| 1 month | 1.31% | 0.32% | 0.99% |
| 3 months | 5.41% | 5.13% | 0.28% |
| 6 months | 11.53% | 11.79% | -0.26% |
| 1 year | 15.68% | 18.20% | -2.52% |
| 3 years (p.a.) | 8.70% | 16.67% | -7.97% |
| Since inception (21 October 2021) |
-27.08% | 34.70% | -61.78% |
| Compounded annual return since inception | -7.70% | 7.85% | -15.55% |
| Distribution per unit | |
| June 2025 | 0.00 cents |
| June 2024 | 0.00 cents |
| June 2023 | 0.00 cents |
| June 2022 | 0.00 cents |
Polen Capital Global Small and Mid Cap Fund performance is net of fees and includes reinvestment of all distributions.
The issuer of units in the Polen Capital Global Small and Mid Cap Fund (ARSN: 652 035 642) is the Fund’s responsible entity Fundhost Limited (ABN 69 092 517 087) (AFSL: 233045). The Product Disclosure Statement (PDS) contains all of the details of the offer. Copies of the PDS and Target Market Definition (TMD) are available from Montgomery Investment Management (02) 8046 5000 or at www.montinvest.com 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 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. The investment returns of the Fund are not guaranteed, and so the value of an investment may rise or fall.
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