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Munro Climate Change Leaders Fund

A portfolio of climate winners that will help enable the decarbonisation of the planet; companies that are best positioned to champion and win from this significant structural change.

Fund Overview

Climate investment – a major structural change – is at the start of its s-curve, with many new climate technologies still early in the adoption phase and therefore having the potential for significant growth. The Fund aims to create a portfolio of climate winners that help enable the decarbonisation of the planet.

The strategy targets listed companies across a range of industries and countries whose earnings prospects should improve with the increased investment in, and focus on, decarbonisation. The portfolio is a concentrated, long-only portfolio of 15 to 25 companies.

The investment process, honed over 15 years, is based on the ability to identify sustainable growth trends that are underappreciated and mispriced by the market, and the resulting winners in the stock universe.

Munro has initially identified four trends of interest related to the world’s move toward a net-zero carbon emissions goal:

  • Clean Energy – companies at the forefront of renewable energy generation covering wind, solar and renewable diesel.
  • Clean Transport – companies benefiting from the growth of electric vehicles, battery technology, and alternative transportation.
  • Energy Efficiency – companies at the forefront of insulation products, electrical switches, lighting and metering technology.
  • Circular Economy – companies most likely to benefit from efforts to improve recycling, alternative packaging materials and management of wastewater.

These trends of interest may change over time, based on the investment team’s qualitative and quantitative assessments.

Entry and exit prices are available here.

QUICKLINKS
FUND FACTS
  • APIRGSF1423AU
  • Inception date29 October 2021
  • DistributionsAnnually
  • Fund size at 30.06.2024$46.59 M
  • Units on issue at 30.06.202434.03 M
HOW TO INVEST

Investment can be made using the Fund’s PDS or through key platforms, including:

  • BT Panorama
  • HUB24
  • Macquarie Wrap
  • Mason Stevens
  • Netwealth
  • Praemium
Research opinion

Portfolio Value of $10,000 Invested

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Munro Climate Change Leaders Fund Performance

As at
30 June 2024
Month % 3 Months % 1 Year % 3 Years % p.a. 5 Years % p.a. 7 Years % p.a. 10 Years % p.a. Since Inception1
% p.a.
Fund2 (2.91) 4.86 42.75 N/A N/A N/A N/A 12.63
Benchmark3 1.80 0.54 18.98 N/A N/A N/A N/A 9.28
Over / (Under) (4.71) 4.32 23.77 N/A N/A N/A N/A 3.35

Munro Climate Change Leaders Fund Performance Components

As at
30 June 2024
Month % 3 Months % 1 Year % 3 Years % p.a. 5 Years % p.a. 7 Years % p.a. 10 Years % p.a. Since Inception1
% p.a.
Distribution4 0.00 0.00 0.00 N/A N/A N/A N/A 0.13
Growth (2.91) 4.86 42.75 N/A N/A N/A N/A 12.50
Total (2.91) 4.86 42.75 N/A N/A N/A N/A 12.63

1 29 October 2021
2 Fund returns are calculated net of management fees and assuming all distributions are reinvested
3 MSCI All Country World Net Index in AUD

Past performance is not a reliable indicator of future performance.

*All data is the property of MSCI. No use or distribution without written consent. Data provided “as is” without any warranties. MSCI assumes no liability for or in connection with the data.

IMPORTANT INFORMATION

This material has been provided for general information purposes only and must not be construed as investment advice. This material has been prepared without taking account of the objectives, financial situation or needs of individuals. Before making an investment decision in relation to a Fund, investors should consider the appropriateness of this information, having regard to their own objectives, financial situation and needs, and read and consider the product disclosure statement (PDS) for the Fund prior to making any investment decision. The PDS is available on this website or by calling 1300 133 451.

Past performance information provided on this website is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. Investing involves risk including loss of capital invested. None of GSFM Responsible Entity Services Limited, its related bodies or associates nor any other person guarantees the repayment of capital or the performance of the Fund or any particular returns from the Fund. Please click on this link to read the disclaimers in full.

Investment Team

Nick Griffin

Nick Griffin

Founding Partner, Chief Investment Officer, Climate Co-Lead

James Tsinidis

James Tsinidis

Partner & Portfolio Manager, Climate Co-Lead

Qiao Ma

Qiao Ma

Partner & Portfolio Manager

Kieran Moore

Kieran Moore

Partner & Portfolio Manager

Jeremy Gibson

Jeremy Gibson

Partner & Portfolio Manager

FUND AT A GLANCE
  • Contribute to the decarbonisation of the planet
  • Access to climate-related investment opportunities
  • Focus on growth investments
  • Actively manages 15–25 positions
  • Access to an experienced investment team with a 15+ year track record
  • Complements other broad-based global equity strategies

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