Global opportunities

26 Comments

1. 

   david malcolm
   May 28, 2015 at 3:12 pm:

   Roger…your domestic funds perform well and you have an outstanding track record and a proven valuation methodology
   Does your firm have these same attributes for international investment ergo track record and methodology or will u simply hire in the expertise?
   If the latter one would hope that the fate of this venture does not mirror the fate of another we’ll known fund operator who hired an entire international team only to see it “blow up” a short time later

   • 

     Roger Montgomery
     May 28, 2015 at 9:58 pm:

     The team is wholly internal. We go to lunch together!

2. 

   Peter Bear
   May 28, 2015 at 12:55 pm:

   Roger, any comments on the long term performance/differences of the global fund relative to the montgomery fund? Or an alternative question, international relative to australia investments?

   • 

     Roger Montgomery
     May 28, 2015 at 2:20 pm:

     To invest in both is to believe in both over the long run.

3. 

   garry peck
   May 27, 2015 at 10:34 am:

   Hi Roger,
   As a retired pensioner on a Wrap platform i need to live mainly from my financial investments, i am a member of the Montgomery Fund which pays a twice year distribution and for diversification i am interested in the upcoming Montgomery Global Fund.
   Question: Will this fund pay distributions, and are franking credits accessible with the fund ?
   A loyal follower
   Garry Peck.

   • 

     Roger Montgomery
     May 28, 2015 at 2:25 pm:

     HI Garry, Excellent questions. The Montgomery Global fund will is an Australian domiciled fund. ALl interest earned, dividends received and capital gains (net of capital losses) will have to be distributed. The fund is a global fund so franking will exist to the extent that there are net dividends from any (if) Australian companies in the fund.

4. 

   Jules W
   May 25, 2015 at 8:17 am:

   Hi Roger,
   Perhaps I’m misinterpreting, but concerned about Montaka: ‘profit from broken business models, structural declines, fraudulent accounting’. It suggests the fund is making money from unethical means (fraud, their own or via others)?

   • 

     Roger Montgomery
     May 26, 2015 at 7:12 am:

     That’s an interesting idea. Better not invest in any of the banks – for we know not the true purpose of every loan – and we don’t invest, for ethical reasons, in some of the businesses they lend money to. I’m wondering whether any perceived dilemma is akin, for example to a hunter shooting a feral cat. Some might respond by suggesting the hunter is cruel, but if 1000 native animals (that might have been killed by the cat) are saved, can the hunter be commended or condoned? Interesting and thanks for sharing.

     • 

       Jules W
       May 27, 2015 at 9:21 pm:

       Hi Roger,
       You are right, ethics is matter of where to draw the line.
       If I told the ATO my business is profiting from fraudulent accounting, I’d expect a swift delivery to room 101!

     • 

       Roger Montgomery
       May 28, 2015 at 2:21 pm:

       If you were conducting the fraud, you should go straight to prison!

   • 

     Patrick Poke
     May 26, 2015 at 7:18 am:

     If I may offer my thoughts, I would argue that the selling of companies involved in fraudulent activity is the most ethical course of action when faced with such a situation. By selling (especially if you’re a well known fund manager) you help to expose the fraud and hopefully drive its price to a more efficient level.

     • 

       Roger Montgomery
       May 27, 2015 at 8:39 am:

       Thank you Patrick. Our view rests on the idea that there are indeed benefits to the market.

5. 

   zoran arnautovic
   May 21, 2015 at 12:21 pm:

   Roger, it would be great if “Montgomery” was listed on ASX. We could then be part of great Montgomery journey by buying stock instead of just surrendering our money to you and sitting around. Travelling is an option but after going to every museum on this earth and beyond ,LOL, it gets bit boring.
   Otherwise best of luck with new funds.

   • 

     Roger Montgomery
     May 21, 2015 at 5:57 pm:

     There is more to see on this Earth than one can take in, in a lifetime.

6. 

   robert-staggs
   May 21, 2015 at 12:58 am:

   Here is an interesting China article to keep in mind for your international fund with more potential downside for the AUD

   http://www.news.com.au/finance/real-estate/rent-a-foreigner-industry-playing-large-role-in-chinas-construction-boom/story-fndbarft-1227354601098

   • 

     Roger Montgomery
     May 21, 2015 at 10:39 am:

     Thanks RS

7. 

   Peter Bear
   May 20, 2015 at 3:37 pm:

   Question for Roger, maybe answer in one of his interviews.
   Recently Roger has been saying in interviews that the montgomery fund is 30% cash and explaining why, so why is now a good time to invest in an international fund?

   • 

     Roger Montgomery
     May 21, 2015 at 12:21 am:

     Currently many more opportunities internationally than available in the Australian market. By the way, the markets could go up down or sideways. It’s not our job to predict that. Our job is to buy a portfolio of extraordinary businesses with bright prospects, when they are available at cheap prices. That can happen at any time as we recently demonstrated buying Sirtex under $18 after selling it at circa $34. The market level didn’t change very much at all. Its important to focus on the businesses not on ‘the market’

8. 

   Patrick Poke
   May 20, 2015 at 1:46 pm:

   Excellent! A Long/Short fund! Guessing the Montaka won’t be available for on platforms though?

   • 

     Roger Montgomery
     May 21, 2015 at 12:22 am:

     It will eventually Patrick but you’ll have to wait for the ratings and the raters like to wait two to three years

9. 

   Carlos Cobelas
   May 20, 2015 at 12:12 am:

   Roger, will you be managing the Global fund via your current staff or will you need to employ or engage others ?

   • 

     Roger Montgomery
     May 21, 2015 at 12:23 am:

     We have already been hiring for this and will continue doing so.

     • 

       Patrick Poke
       May 21, 2015 at 12:04 pm:

       Hi Roger,

       I can’t find an ’employment opportunities’ section on the montinvest.com website or rogermontgomery.com. Have you got a list of the positions you’re hiring for at all?

     • 

       Roger Montgomery
       May 21, 2015 at 5:58 pm:

       Hi patrick, Not currently hiring but always happy to read and review interesting high calibre CV’s

     • 

       Patrick Poke
       May 28, 2015 at 2:32 pm:

       Thanks Roger, I’m not quite ready to be applying for roles yet unfortunately, still in my first year of my Masters. I want to get through the first year and sit my CFA level 1, then begin applying for roles. I was more just curious to see what you’re looking for in candidates so I can start thinking about it. I’ll definitely keep an eye out from next year for anything though as working for Montgomery Investment Management would be my ideal job, I’d even make the interstate move for such an opportunity.

     • 

       Roger Montgomery
       May 28, 2015 at 3:19 pm:

       We are delighted to hear it Patrick. Please keep the channels of communication open.