Our goal is to maximise the probability of achieving the multi-decade compounding of your wealth, alongside our own wealth.

The Montaka Global Long Only Equities Fund (Managed Fund) is quoted under ASX ticker MOGL.

The Montaka Global Long Only Equities Fund (Managed Fund) aims to provide investors with long term capital growth as well as distributions of at least 4.5% per annum through a portfolio of quality global shares and to outperform the MSCI World Net Total Return Index (Index), in Australian Dollars over a rolling 5-year period, net of fees. Returns are not guaranteed.

Montaka Global Long Only Equities Fund (Managed Fund) will typically invest in an all-cap portfolio of 15 to 30 high quality businesses listed on major global stock exchanges with a focus on North America, Western Europe, the United Kingdom, Japan, Hong Kong, Singapore and Australia. 

If an insufficient number of individual company names are appealing in terms of the prevailing share price relative to the Montaka Global’s assessment of their intrinsic value, we may consider the overall market ‘expensive’ and in an effort to preserve the market value of the portfolio, may allow the cash component of the portfolio to build.

While cash may represent as much as 30% of the Fund this limit can be exceeded during the start-up phase of the Fund, or during periods of relatively high cash inflows or during periods when the Montaka Global investible universe is unappealing in terms of margin of safety or in anticipation of extreme market dislocation.

Montaka Global may, on occasion, hedge the Fund against movements in the Australian Dollar and other currencies, but the default position is to remain unhedged.

An active Exchange Traded Managed Fund (ETMF) is, most simply, a managed fund that is traded on a stock exchange such as the ASX. They are built like managed funds, but trade like shares, meaning that pricing is transparent and they can be bought and sold during any trading day just like ordinary shares. Active ETMFs share many similarities with exchange traded funds (ETFs) but have one key difference: ETFs are “passively managed” and aim to track a particular benchmark or index, whereas ETMFs are “actively” managed by fund managers with the aim of outperforming a relevant benchmark.

Under normal market conditions an ASX Quoted fund is liquid. Settlement would occur under the usual ASX trading rules of T+2. In addition, by having an outsourced market maker, they usually have the obligation to provide liquidity to the ASX market. The active ETMF is also invested in listed assets, which means the underlying investments under normal market conditions are simple, unlevered and relatively liquid. Please refer to the PDS, Section 3.3 and 3.4 on page 13 to understand the impact on liquidity in extreme market conditions.

The Management Costs, Custody Fees and Indirect Costs are 1.32% per annum inclusive of GST/RITC.

The Performance Fee is 15.38% of the total return of MOGL after management fees and expenses have been deducted, that is in excess of the MSCI World Net Total Return Index, in Australian Dollars, and is calculated daily and paid semi-annually in arrears. When the total return of MOGL is less than the Index return, no performance fee is payable. No performance fee is payable until any previous periods of underperformance have been made up.

A Performance Fee is payable to Montaka Global in respect of each 6-monthly period ending 30 June or 31 December when the investment performance of MOGL has exceeded the benchmark, being the performance of the Index, in Australian Dollars, and achieved positive performance.

Total management costs for MOGL will be the same as the current equivalent, the Montaka Global Long Only Fund (which is an unlisted managed fund). In addition to the management costs, investors will incur fees from their stockbroker when buying and selling units in MOGL.

Investors will also bear the buy-sell spread when entering and exiting their investment on the stock exchange, which is substantially similar to that in the unlisted Montaka Global Long Only Fund.

You can purchase units in MOGL via your trading account or through your preferred broker subject to their minimum and brokerage fees.

Please note, Montaka Global are not a broker and as such cannot facilitate the buying or selling of MOGL units via the ASX.

Distributions are targeted to be paid semi-annually, being; end of calendar year and end of financial year. They should be received within 20 days of each end of period. 

Like an unlisted managed fund, the distributions might include income and realised capital gains of the fund and any additional amounts of cash, income or capital.

Yes. You can access this from the Investor Centre – see Fund Documents.

The default option is for distributions to be reinvested, however you can choose for them to be paid out as cash. Please contact Mainstream Fund Services Pty Ltd or visit the Investor centre at https://montaka.mainstreamfs.com/login to update your distribution preference if you would like your distributions to be reinvested. 

For additional transparency, MOGL will disclose an indicative net asset value (iNAV) which is updated regularly during the trading day. The purpose of the iNAV is to provide investors with an intra-day view of the ‘fair value’ for the Fund. The iNAV will be updated for foreign exchange movements in the Fund’s portfolio of stocks and will also be updated in respect of stocks that have live market prices during the trading day. The Fund may use one or more other index futures, such as S&P futures, as a proxy to account for movements in the Fund’s exposure to certain stocks and derivatives that do not have live market prices during the ASX Trading Day.

You can access the iNAV on this page.

We expect that performance will closely follow the equivalent existing unlisted Montaka Global Long Only Fund, as it maintains the same investment strategy, investment process and substantially the same portfolio.

There may, however, be small differences created by: 1) the fact that each ETMF acts as market maker; and 2) the size and timing of cash flows into the ETMF; and 3) performance fee payments may differ because of different inception dates between the ETMF and the comparable unlisted fund. These three factors may cause the two funds to slightly differ in performance.

All transaction confirmations, periodic statements, holding statements, distribution and annual tax statements will be sent to you by Mainstream Fund Services Pty Ltd, as the Unit Registry for the Montaka Global Long Only Equities Fund (Managed Fund). 

You can update your distribution election by logging in to your portfolio at https://montaka.mainstreamfs.com/login and selecting the investment then clicking ‘settings’ at the top right of the screen. Here, you can elect reinvestment as your distribution method. For cash elections, please update your banking instructions by selecting ‘direct credit’ and completing ‘linked bank account’ details.

Investors can elect how they receive annual and other financial reports through the Mainstream Investor Centre at https://montaka.mainstreamfs.com/login

You can sell units in MOGL via your trading account or preferred broker, just like you would a share on the ASX.

Investors do not need to complete any paperwork or submit a redemption form. Settlement of the sale of units will occur in the same way as the sale of listed securities via the ASX CHESS settlement service on a T+2 cycle.

Please note Montaka Global are not a broker and as such cannot facilitate the buying or selling of MOGL via the ASX.

No. They are completely different trusts under separate investment vehicles. To switch, you will need to redeem your unlisted Montaka Global Long Only Fund investment and then buy into MOGL via your broker (or vice versa).

You should consult with your financial adviser before making an investment decision.