“Munro Partners, via its investment management team and investment process, has the ability to seek out and invest in some of the most innovative and fastest growing companies in the world today. ”
In managing the Fund, Munro Partners’ investment approach is an active, benchmark unaware, long/short global equity strategy. There are no regional, market capitalisation or sector constraints, and no allocation limits in respect of the location, class or currency of assets. The Fund will gain its exposure to international equity markets by investing in the Munro Global Growth Fund (Underlying Fund) and cash.
The portfolio of the Fund, through its investment in the Underlying Fund, will be constructed observing the following guidelines:
- Exposure management is driven by bottom-up idea generation. Typical gross exposure ranges between 50-150% and typical net exposure between 50-100%.
- Portfolio concentration: typically, the portfolio will range between 30-50 investments, including both long and short positions.
- Position sizing: typically, average Long Positions are 3% of the Fund’s Net Asset Value (NAV) and average Short Positions are 1.5% of NAV.
- Short philosophy: Short Positions are typically represented on a single stock basis targeting poorly positioned or overvalued companies, or as a portfolio hedging tool.
Munro Partners is focused on growth; it identifies sustainable growth trends that are under-appreciated, not well understood and mispriced by the market – and the stocks that are winners and losers as a result. As experts in the space, Munro Partners leverages its global access to identify key ‘Areas of Interest’ for further investigation.
Ideas are generated from a combination of top-down thematic and bottom-up views, and the research process is a vital ingredient. The team has constant interaction with corporate management, independent consultants, industry networks, sell-side research and the private equity community, all which contribute to the identification of new Areas of Interest and new investment opportunities.
Munro Partners won the Money Management/Lonsec Fund Manager of the Year Award – Emerging Manager – 2018 for the Munro Global Growth Fund, was the 2018 winner of the Best Emerging Manager at The Australian Alternative Investment Awards and won the best Long Short Equity Fund category at the 2020 Hedge Funds Rock Awards. Munro Partners also won Zenith’s 2020 award in the International Equities – Alternative Strategies category.
The Fund at a glance
- Quoted active, benchmark unaware absolute return global equity strategy
- Deploys a long/short equity strategy with a long bias
- Focus on growth investments
- Access to an experienced investment team
- Strong emphasis on risk management and capital preservation
- Complements cash, bonds and other global equity strategies that primarily focus on value or core investment styles.