The Montgomery [Private] Fund invests principally in a focused or ‘high conviction’ portfolio of companies listed in Australia. The Montgomery [Private] Fund’s long-term objective is to provide absolute returns to investors in the form of capital growth and income.
The Montgomery [Private] Fund aims to invest in companies that meet its criteria for superior financial and managerial attributes, which fall under four categories, including excellent Quality, an attractive purchase Price, shareholder-oriented Management and identified positive Change or catalyst. The Fund retains the flexibility to hold up to 100% of its assets in cash should extreme exogenous circumstances demand it.
Why invest
| Number of holdings | 25-35 |
| Style | Growth & Value |
| Benchmark | S&P/ASX 200 Industrials Accumulation Index |
| Fund fact sheet | Download |
Montgomery Investment Management as investment manager appointed Australian Eagle Asset Management as sub-investment manager to work out of our Sydney offices, to co-manage The Montgomery [Private] Fund’s assets. Opened in Sydney in 2004 Australian Eagle is owned and operated by its team.
Australian Eagle Asset Management applies a highly disciplined and fact-based investment process to identifies high quality listed companies with the potential to deliver superior long-term outcomes.
In this video Roger Montgomery provides his key observations on The Montgomery [Private] Fund's investment approach and the qualities Montgomery and Australian Eagle look for in companies we invest in.
Founder and Chairman, Roger Montgomery, and Chief Investment Officer, Sean Sequeira, 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 | 23 December 2010 |
| Investment Manager | Montgomery Investment Management |
| Objective | The Fund’s long-term objective is to provide absolute returns to investors in the form of capital growth and income, from a portfolio of Australian and New Zealand shares. |
| Benchmark | S&P/ASX 200 Industrials Accumulation Index |
| Fund Construction | The Montgomery [Private] Fund will hold between 15 and 30 investments in Australian and New Zealand shares. Up to 100% of The Fund’s assets can also be held in cash when suitable investments cannot be found or in order to manage risk. |
| APIR Code | FHT0027AU |
| Recommended Investment Timeframe | 5 years |
| Minimum Investment | A$1,000,000 |
| Minimum Additional Investment | A$50,000 |
| Fund Size | A$193.2m as at 30/09/2025 |
| Distribution Frequency | Any income distributions are paid annually (as at 30 June each year). Distributions can be reinvested in full back into The Fund or paid out entirely to the financial institution account nominated on your application form. There may be years when distributions are nil. |
| Entry Fee | Nil |
| Exit Fee | Semi annually at 31 January and 31 July without penalty. Fund redemptions may be accepted on a weekly basis but will be subject to a levy of 0.5% (50 cents per $100), which is retained by The Fund. |
| Buy/Sell Spread | 0.25%/0.25% |
| Management Fee | 1.25% |
| Performance Fee | 15.38% of the total return of The Fund that is in excess of the Benchmark. |
| The Montgomery [Private] Fund | ASX 300 Accum. Index | Out/Under Performance | ASX 200 Industrials Accum. Index | Out/Under Performance | |
|---|---|---|---|---|---|
| 3 months |
3.93% |
4.99% |
-1.06% |
2.93% |
1.00% |
| 6 months |
11.35% |
14.94% |
-3.59% |
10.94% |
0.41% |
| 12 months |
9.34% |
10.76% |
-1.42% |
17.67% |
-8.33% |
| 3 years (p.a) |
12.07% |
15.03% |
-2.96% |
16.99% |
-4.92% |
| 5 years (p.a) |
8.34% |
12.88% |
-4.54% |
11.57% |
-3.23% |
| 7 years (p.a) |
6.43% |
9.25% |
-2.82% |
8.14% |
-1.71% |
| 9 years (p.a) |
5.74% |
9.74% |
-4.00% |
8.93% |
-3.19% |
| 11 years (p.a) |
7.04% |
9.09% |
-2.05% |
10.61% |
-3.57% |
| Since inception |
221.18% |
236.10% |
-14.92% |
273.40% |
-52.22% |
| Compound annual return |
8.22% |
8.55% |
-0.33% |
9.33% |
-1.11% |
The Montgomery [Private] Fund inception date is 23/12/2010. 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 | 8.5851 cents | $1.2122 |
| June 2024 | 7.6893 cents | $1.1663 |
| June 2023 | 5.1987 cents | $1.1563 |
| June 2022 | 9.3135 cents | $1.0915 |
| June 2021 | 6.2857 cents | $1.3608 |
| June 2020 | 3.8429 cents | $1.1091 |
| June 2019 | 6.0173 cents | $1.2014 |
| June 2018 | 12.0517 cents | $1.2036 |
| June 2017 | 6.1093 cents | $1.2126 |
| June 2016 | 17.2143 cents | $1.2534 |
| June 2015 | 14.6151 cents | $1.2553 |
| June 2014 | 4.4934 cents | $1.2346 |
| June 2013 | 12.8334 cents | $1.1854 |
| June 2012 | 2.8771 cents | $1.0263 |
You should read the Information Memorandum before deciding to acquire the product.
Units in The Montgomery [Private] Fund are issued by the Funds trustee Fundhost Limited (ABN 69 092 517 087) (AFSL: 233045). Before making any decision to make or hold any investment in the Fund you should consider the Information Memorandum in full. 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.
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