Celebrating one year of the Munro Global Growth Small and Mid Cap Fund

On behalf of the team at Munro, I am thrilled to mark the one-year anniversary of the Munro Global Growth Small and Mid Cap Fund with a return of 53.9%, outperforming its benchmark, the MSCI ACWI Small & Mid Capitalisation Index’s return of 24.7% by 29.2%. The Fund’s strong start is attributed to our investment process and the collective expertise of our team.

A key driver of our success lies in the Fund’s diversified portfolio across multiple Areas of Interest.

We believe that focusing on emerging trends across Climate, Digital Enterprise, High Performance Computing, Security, Consumer, and Infrastructure has allowed us to capture growth from multiple sources. This strategy proved effective in navigating the complexities of the market environment over the past year.

The Fund’s first year of performance is a result of the collaboration and diverse perspectives of our entire investment team. By fostering a rich environment of knowledge sharing and rigorous due diligence, we were able to uncover unique and promising investment opportunities.

Most importantly, we extend our gratitude our investors. Thank you for your trust and support.

While we are proud of the Fund’s performance in its first year, we remain incredibly excited about its prospects. We believe that the companies within the portfolio have long runways for growth and remain under-appreciated and underdiscovered by the broader market. Their reasonable valuations, particularly compared to their larger peers, present a compelling opportunity for continued value creation.

We look forward to sharing further updates on the Fund’s progress.

Many thanks,

Qiao Ma
Partner & Lead Portfolio Manager

Click here to watch the Munro Global Growth Small & Mid Cap Fund anniversary video

IMPORTANT INFORMATION: Past performance is not a guide to future performance. Data is as at 31 October 2024. Inception date is 31 October 2023. Returns of the Munro Global Growth Small & Mid Cap Fund are net of management costs and assumes distributions have been reinvested. GSFM Responsible Entity Services Limited ABN 48 129 256 104 AFSL 321517 (GRES) is the responsible entity of the Munro Global Growth Small & Mid Cap Fund ARSN 670 777 885 APIR GSF0874AU (Fund). This document is issued by Munro Partners, a corporate authorised representative of Munro Asset Management Limited ABN 28 163 552 254 AFSL 480509 and investment manager of the Fund. This information has been prepared without taking account of the objectives, financial situation or needs of individuals. Before making an investment decision in relation to the 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 and the Additional Information to the Product Disclosure Statement (AIB) which may be obtained from www.gsfm.com.au, www.munropartners.com.au or by calling 1300 133 451. GSFM Responsible Entity Services has produced a Target Market Determination (TMD) in relation to the Munro Global Growth Small & Mid Cap Fund. The TMD sets out the class of persons who comprise the target market for the Fund and is available at www.gsfm.com.au. None of GRES, Munro Partners, 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. This document is issued on 6 November 2024.