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.
March 2023: Roger Montgomery was joined by co-Portfolio Managers Sean Sequeira and Alan Kwan from Australian Eagle, to discuss how The Montgomery [Private] Fund portfolio has been positioned to best take advantage of the investment conditions we see ahead in 2023.
*this is a forward pricing fund, the price you receive is based on close of market prices.
| The Montgomery [Private] Fund | ASX 300 Accum. Index | Out/Under Performance | ASX 200 Industrials Accum. Index | Out/Under Performance | |
|---|---|---|---|---|---|
| 3 months | 9.31% | 9.46% | -0.15% | 8.91% | -0.40% |
| 6 months | 6.09% | 7.44% | -1.35% | 5.22% | 0.87% |
| 12 months | 9.57% | 10.53% | -0.96% | 9.83% | -0.26% |
| 3 years (p.a) | 5.35% | 9.09% | -3.74% | 10.63% | -5.28% |
| 5 years (p.a) | 6.01% | 8.61% | -2.60% | 5.57% | 0.44% |
| 7 years (p.a) | 6.05% | 8.60% | -2.55% | 8.09% | -2.04% |
| 9 years (p.a) | 5.75% | 7.27% | -1.52% | 8.27% | -2.52% |
| 11 years (p.a) | 6.86% | 8.15% | -1.29% | 8.95% | -2.09% |
| Since inception | 179.21% | 175.90% | 3.31% | 192.45% | -13.24% |
| Compound annual return | 8.10% | 8.00% | 0.10% | 8.48% | -0.38% |
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 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.
Investors in the Montgomery [Private] Fund will benefit from Roger Montgomery’s three decades of investment experience and the equally seasoned expertise of Sean Sequeira and Alan Kwan as Co-Portfolio Managers.
Sean Sequeira jointly established Australian Eagle Asset Management in 2004 and was appointed Australian Eagle’s Chief Investment Officer in 2016. In addition to stock selection and analysis, Sean is responsible for all aspects of the investment process. Sean is head of Australian Eagle’s portfolio risk committee and process integrity committee.
Alan Kwan is an Actuary and CFA® charterholder. Alan joined Australian Eagle Asset Management in 2011 and is the principal analyst for many stocks in the coverage universe, particularly medium-capitalisation companies. He is a key member of the portfolio management team and implementation process.
After an initial discussion with Montgomery about investing in The Montgomery [Private] Fund:
Read the Information
Memorandum in full
Complete the application form and ID requirements and send this to the Administrator
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, Fundhost Limited on 02 8223 5400.
If you wish to make an additional investment (top-up) an existing investment in The Montgomery [Private] Fund, please see the instructions here.
Please call David Buckland or Toby Roberts on 02 8046 5000 to discuss The Montgomery [Private] Fund in more detail.
The Net Asset Value (after expenses) is calculated weekly, every Thursday.
The Montgomery [Private] Fund’s portfolio is built up stock-by-stock. As each company that meets the Fund’s criteria is added, the portfolio should exhibit characteristics the average value of which is superior to the broader markets. As a consequence, the portfolio should also demonstrate below-average characteristics for business risk.
Also consequently, investment weightings will vary considerably from general industry benchmarks such as the S&P/ASX 200. Please refer to the Information Memorandum Section 3 for more information on the investment strategy and process.
A minimum initial investment of $1,000,000 is required. Montgomery Investment Management can waive this minimum at their discretion.
Investors can add to their initial investment at any time, through a lump sum additional investment, for which there is a minimum of $50,000. Additional investments will be processed weekly.
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. We distribute all taxable income to investors each year, including any taxable capital gains. Distributions may also carry imputation or other tax credits. Generally, net income is difficult to predict, and the size of distributions may vary from year to year. There may be periods when net income could be negative and no distribution is made.
Our administrator, Fundhost, has a portal that investors can access to see their balance and download all statements. Once invested, you will be given registration details.
Access the Fundhost client log in here:
Login
You can make a form-free additional investment via EFT. Find the full instructions here.
To redeem your holding, simply fill out the Redemption Request form with the required notice period and have it signed by the authorised signatories on the account. Please see the manage my investments section.
Redemptions can be made semi-annually at 31 January and 31 July.
Withdrawal requests will be processed using the unit price effective for 31 July or 31 January (as appropriate).
Fundhost must receive your request by 4pm Sydney time 45 days before 31 July or 31 January (as appropriate).
Withdrawal requests at other times may be permitted but will attract a Redemption Levy of 0.5%, which is retained by the Fund. Please refer to the Information Memorandum Section 4 for more information.
No commissions are paid by us to any financial advisers.
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