Fund Overview

Structural change is reshaping the global economy, creating durable, long-term growth opportunities that the market often under-appreciates and misprices. The Fund aims to build a portfolio of high-quality global growth equities, located anywhere in the world, that are at the forefront of that change.

The strategy invests in 25 to 50 listed global companies across a range of industries and countries. Munro groups companies into defined Areas of Interest – long-term structural growth changes affecting the world – and seeks out those with the potential to grow earnings faster, and more sustainably, than the overall market. This is an actively managed, long-only portfolio, and currency is unhedged.

The Fund aims to achieve a return greater than the MSCI World Index Total Return Net in NZD, before fees, over rolling five-year periods. Drawing on an investment process Munro has used to manage global growth equity mandates since 2016, the approach focuses on identifying structural growth trends that are under-appreciated or mispriced, and selecting the resulting winners.