Montgomery Global Investment Management has announced plans to launch an exchange-quoted global equity fund, with the initial offer opening today.
The Montgomery fund, which will trade under the ASX ticker MOGL, will commence trading on the ASX around 20 December 2017.
The new fund will share the same strategy as the unlisted Montgomery Global Fund, which was launched on 1 July 2015 and holds between 15 and 30 global companies.
The initial offer, which has a minimum application of $10,000, opens today and will close at 4pm on 14 December 2017.
Macquarie Equities will act as market maker for the newly quoted fund.
Montgomery chief investment officer Andrew Macken said, "MOGL should really appeal to people trying to diversify away from the narrow opportunity set in the Australian stock market and gain exposure to some of the world’s best businesses in the fastest growing sectors.
"Furthermore, MOGL looks to preserve capital and grow wealth in an uncertain world. To achieve this the fund will own high-quality global businesses, trading at attractive valuations and retain the ability to hold up to 30 per cent in the safety of cash."
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