Montaka Global Extension Fund - Complex ETF (ASX:MKAX) has released its investment update for 30 October 2026, disclosing a unit price (NAV) of A$3.2376, a fund size of A$74 million, and total top 10 holdings representing 89.2% of NAV, with Microsoft as the largest position at 16.0%.

Key Points

  • NAV unit price stands at A$3.2376 and fund size is A$74 million as at 30 October 2026
  • Microsoft is the largest holding at 16.0% of NAV, followed by Amazon at 14.0% and Meta at 11.3%
  • The fund holds 21 long positions and 25 short positions, with gross exposure of 157.1% and net exposure of 95.1% of NAV
  • One-month total return was -2.0%, while the three-year annualised return was 14.2% and since-inception annualised return was 5.4%

Top 10 Holdings and Portfolio Composition

According to the filing, the fund's top 10 holdings account for 89.2% of NAV. Microsoft leads at 16.0%, followed by Amazon at 14.0%, Meta at 11.3%, KKR at 8.4%, and Mastercard at 7.9%. Visa represents 7.4%, BAE Systems 7.1%, S&P Global 6.5%, Tencent 5.3%, and Uber 5.3%. The fund currently holds 21 long positions and 25 short positions. Cash weighting is 4.9% of NAV, and Australian dollar currency exposure on a look-through basis is 40.0% of NAV. Portfolio turnover, as defined in the filing, stands at 94.2%.

Total Return Performance as at 30 October 2026

The filing discloses total return performance figures calculated using the fund's NAV unit price, pre-tax and net of management fees and costs, with distributions reinvested. The one-month return was -2.0%, the three-month return was 2.4%, and the six-month return was 9.3%. The one-year return was -15.9%, while the two-year annualised return was -2.1%. The three-year annualised return was 14.2% and the five-year annualised return was 1.5%. Since inception on 24 June 2020, the fund has returned 5.4% per annum.

Fund Facts and Key Themes

The fund is managed by Portfolio Manager Andrew Macken under a management fee of 1.25% per annum and a performance fee of 20% of total return above the benchmark, subject to a high watermark. The benchmark is 7% per annum, calculated within any performance fee calculation period. Buy and sell spreads are each 0.25%. Distributions target 5% per annum, paid semi-annually as at 30 June and 31 December each year. The filing discloses five key themes by net exposure: Financial & Data Platforms at 28%, Cloud Computing at 20%, Discovery Engines at 18%, Physical Marketplaces at 15%, and Enterprise Software at 15%.