Munro Partners has announced a new Global Growth Small and Mid Cap Fund, to be managed by lead portfolio manager Qiao Ma.
Requiring a minimum initial investment of $10,000, the Munro Partners Global Growth Small and Mid Cap Fund will typically hold some 20 to 40 listed equities, investing in global growth oriented small and medium companies with a market capitalisation between US$250 million and US$30 billion.
It will aim to achieve a return, after fees, exceeding the MSCI ACWI SMID CAP Index (Net) in Australian dollars over a rolling five to seven-year period.
According to Ma, the fund represents a natural progression for the firm.
“Many of the stocks we are targeting in this fund are already part of the Munro universe. However, they often remain underappreciated due to their smaller size or lower liquidity, making them less suitable for our other investment strategies. With this fund, we are introducing a dedicated portfolio to harness the potential of these smaller yet equally promising opportunities,” she said.
She added it has been designed for investors seeking long-term exposure to a concentrated portfolio of high-quality global growth oriented small and medium capitalisation equities with the potential for capital growth.
“The recent underperformance of small and mid cap indexes also provides attractive opportunities to invest in a portfolio of high-quality and fast-growing companies,” Ma said.
GSFM is the responsible entity and distributor of the fund in the Australian and New Zealand markets, which complements the range of funds currently distributed by GSFM, according to its chief executive officer, Damien McIntyre.
“There is definitely demand in the Australian market for accessibility to the global small and mid cap asset class,” he stated.
“For Australian investors and advisers, being able to access a global equities fund that is managed entirely by a successful Australian-based team with a positive track record will appeal to many looking to further diversify their portfolios.”
He noted a “real advantage” with Ma at the helm, who brings over 15 years of experience to the fund.
Having joined Munro in February this year, she has been responsible for championing stock ideas and managing these positions within each of Munro’s strategies – absolute return, the long only and climate.
Prior to Munro, she was a portfolio manager at Melbourne-based Cooper Investors and has spent nearly a decade with well-known hedge funds in New York City, including Coatue Management and Jericho Capital.
As at 30 September 2023, Munro has some $4.3 billion in funds under management.
