MONTAKA GLOBAL FUND
An absolute return fund that benefits from buying extraordinary businesses in selected global markets at discounts to intrinsic value as well as taking positions on businesses we believe are faltering. Investments start from $1 million and entry is by invitation or referral.
HOW TO INVEST
Ready to invest?
Complete the subscription agreement & ID requirement and send these documents to the Administrator.
You can download the Information Memorandum (IM) here
Want to know more?
Click below to download the fund information pack.
If you prefer to talk it over, call us on the number below.
For assistance completing the application form, you can speak directly with the Administrator, Citco Fund Services on 02 9005 0400
|Montaka Global Fund $A||Average Net Market Exposure|
|3 years p.a.||(1.9%)||58%|
|5 years p.a.||3.9%||53%|
|Since inception, unanualised||30.8%||51.9%|
|Since inception ( p.a.)||4.4%||52%|
As at 31 August 2021
Fund inception date: 1 July 2015
Performance is net of fees and assumes distributions are reinvested. Past performance is not an indicator of future performance.
Growth of $1,000,000 invested since inception
As at 31 July 2021. Price is in AUD. Applicable to the General Class
|Date||Distribution (A$) per unit||Reinvestment unit price|
|June 2021||1.1481 cents||$1.0827|
|June 2019||2.2972 Cents||$1.2697|
|June 2018||8.032 Cents||$1.2576|
|June 2016||2.0 Cents||$0.8981|
The Montaka Global Fund will typically invest in a portfolio of 15 to 30 high conviction stocks listed on major global stock exchanges with a focus on North America, Western Europe, the United Kingdom, Japan, Hong Kong, Singapore and Australia.
The Montaka Global Fund will also short sell typically 25-40 stocks based on a novel framework that categorises stocks into at least one of the following:
- (i) thematic structural declines
- (ii) divergent expectations
- (iii) asymmetries; and/ or
- (iv) misperceptions.
The net exposure to the market (long exposure minus short exposure) would typically be between 30 per cent and 70 per cent; and can vary over time as market conditions change.
Investment is suited to those investors who prefer some exposure to overseas currencies, themes and trends through a portfolio of higher-quality global business as well as a strategy seeking to provide capital preservation in falling markets.
Units in the Fund will be issued and redeemed in AUD.
The assets of the Underlying Funds (Montaka Global Master Fund and Montaka Global Offshore Fund) may be invested in securities and other investments denominated in currencies other than AUD and the functional currency of the Underlying Funds, being USD. The value of such investments may be affected favourably or unfavourably by fluctuations in exchange currencies. Transactions undertaken to hedge adverse currency exchange movements may also involve the risk that a counterparty to any transaction may default on its obligation thereunder.
The Fund implements its investment strategy by investing in the Australian dollar denominated participating shares of the Underlying Funds. The Underlying Funds issue shares in other currencies.
The Underlying Funds may engage in foreign exchange hedging transactions for the Australian dollar denominated participating shares of the Underlying Funds. The relevant hedges will be based upon an estimate of the NAV of the Australian dollar denominated participating shares of the Underlying Funds on each Valuation Day (last day of each month). Any gains or losses arising on foreign exchange contracts relating to the Australian dollar denominated participating shares in the Underlying Funds will only be applied to the relevant Australian dollar denominated participating shares.
Exchange rate fluctuations and the costs of the currency hedging arrangements utilised in respect of the Australian dollar denominated shares may prejudicially affect the net asset value of such shares even where investment performance in respect of those shares is positive.
A minimum initial investment of $1,000,00 is required. Montaka Global, as Trustee, can waive this minimum at their discretion.
Investors can add to their initial investment at any time, through a lump sum additional investment.
Applications and electronic payment needs to be received by the Administrator at least three business days prior to the relevant Subscription Day. Applications can be made by fax or email, however, original applications should be subsequently delivered to the Administrator.
The Net Asset Value (after expenses) is calculated monthly, the first business day of each month.
The Montaka Global Fund should not be acquired with income in mind. While the Fund may pay distributions in the early years of its life, the Investment Manager expects that the Fund will ultimately discontinue the payment of distributions, with income and realised gains reinvested instead.
The Montaka Global Offshore Fund, the Cayman Islands company into which the Montaka Global Fund will invest, will initially be classed as a Controlled Foreign Corporation (CFC) by the ATO and may pay annual distributions. In the future, however, we expect the Montaka Global Offshore Fund to be deemed a non-CFC by the ATO, following which distributions will likely cease.
To be deemed a non-CFC by the ATO, the Montaka Global Offshore Fund requires greater investment by foreign investors than by Australian investors. It is the intention of the Investment Manager to pursue such a strategy in the future. For this reason, the Fund should not be acquired with income in mind as it is intended that future income and realized gains will be reinvested.
Our administrator, Citco, 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 Citco client log in here:
If you want to withdraw your money, simply contact Citco Fund Services (Australia), the Administrator of the Fund, in writing advising how much you wish to withdraw at least 60 days ahead of the date at which you wish to redeem. This is called a redemption request.
Redemption dates occur on the last day of each month. Investments can be redeemed by mailing, faxing or emailing the Administrator a redemption request. Requests that are faxed or emailed will be processed, however, original requests should be subsequently delivered to the Administrator.
The redemption request must be signed by the investor or authorised signatories and must specify the investor number, amount (in dollars or units) and account name, BSB number and account number of the bank account to which payment is to be made.
Investors should note that redemption proceeds will only be paid into the original account in the name of the investor from which the subscription proceeds were derived. Note that normal bank charges apply. Please refer to section 5.2 page 08 of the Investment Memorandum.
If you are a current investor and need assistance with change of details, tax statements, additional investments or redemptions, please contact the Administrator, CITCO Fund Services on 02 9005 0400 or email email@example.com
Montaka Global Pty Ltd, ABN 62 604 878 533, AFSL No. 516942 (previously known as MGIM Pty Ltd) is the investment manager and can be reached on 02 7202 0100 or email at firstname.lastname@example.org
You should read the Information Memorandum before deciding to acquire the product.
The Montaka Global Fund is available to wholesale investors, and is by invitation only, and will not be available for distribution to the general public. Montaka Global Pty Ltd (ACN 604 878 533 ) (AFSL: 516942) (Montaka Global) is the trustee of the Montaka Global Fund. An investment in the Montaka Global Fund will only be available through a valid subscription agreement attached to the Information Memorandum. Before making any decision to make or hold any investment in the Montaka Global 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.
The information provided is general in nature and 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 this information and consider seeking advice from a licensed financial advisor if necessary.