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An update on our proposed new MOGL offering

14112017 MOGL

An update on our proposed new MOGL offering

As many of you know, we have been working hard this year to deliver our investors a new ASX-quoted investment structure to access our successful global long-only strategy that is currently being implemented in our unlisted Montgomery Global Fund. The ASX ticker will be “MOGL”.

Our motivation is simple:

  • Our investors have asked for it.
  • For many investors, it will be even easier to access than our unlisted strategies.
  • The structure is clean and fair for investors.

We knew it was always going to be ambitious to deliver this offering to investors before the year-end holiday period.

And it is not just the Montgomery team who have been working exceptionally hard to bring this offering to life.

The teams at the ASX and ASIC have been working around the clock to ensure a seamless delivery of this offering and that all safeguards are in place for investors. We are incredibly grateful for their support – and you should be too. These two groups play a critical role in the smooth functioning of Australia’s financial markets – and they do a stellar job.

We still have a small window left to deliver you a little Christmas miracle but the probability of MOGL becoming available to you before year-end is small. If it does not happen this year, then our New Year’s resolution is to bring it to you as early in 2018 as possible!

We will keep you informed over the coming days and weeks.

Thank you for your ongoing support and patience.


The Montgomery Team

Andrew Macken is a Portfolio Manager at Montgomery Global Investment Management. Andrew joined Montgomery in March 2014 after spending four years as a Research Analyst under Jim Chanos at Kynikos Associates in New York.

This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.


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  1. I am an investor in the Montgomery Global Fund and am confused as to the relationship between this and the new fund. I am also concerned that there may be a conflict of interest with the same managers operating both funds and investing in the same companies. Will there be Chinese walls between the two funds or open slather – will one fund benefit at the expense of the other.

    • Hi Ron –
      The new MOGL offering will substantially mirror the total returns of the Montgomery Global Fund. It is the same strategy run by the same team.
      The motivation for the new offering is simply to offer investors a new way to ACCESS this strategy. (Some investors prefer to access strategies via the ASX and MOGL will cater to these investor preferences).
      Hope this clears things up.
      All the best,

      • Hi Andrew,
        I assume there is a higher cost structure in operating a listed over an unlisted fund. What confidence do investors in the MGF have that they are not subsidizing the listed fund.
        Investing with Montgomery Funds was once relatively straight forward but is now getting complex to understand and eroding confidence.

      • Ron,
        Let me reassure you completely: there is no incremental cost to existing MGF investors associated with our new MOGL offering. There is no subsidization in any way. Indeed, you might be interested to learn that we, as the investment manager, are bearing the full cost of setting up MOGL (which is not insignificant) and will not be passing any of these costs onto investors in the fund.
        I am glad you have found investing in Montgomery funds straight forward. Unfortunately, there are many investors out there who cannot invest in Montgomery funds in their current (unlisted) form. It is for this reason we are bringing out our new ASX-quoted MOGL offering.
        We are simply trying to make it easier for investors to access Montgomery funds. And we are doing it in the cleanest, fairest and most transparent way we can think of.
        We strive to retain the full confidence of all our investors, including that of yourself, every day we come to work.
        If we can be helpful with any other questions you have, please let us know.
        All the best,

  2. Thanks for that Andrew, I was wondering about the delay, as the IPO was not listed on the ASX list published recently. Still I appreciate the steady as you go from the team at Montgomery.

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