Montaka Global Fund - Active ETF (ASX:MOGL) has released its investment update for the period ended 30 September 2026, disclosing a fund size of A$140 million, a NAV unit price of A$4.1963, and a 21-position portfolio with top 10 holdings representing 66.6% of net asset value.

Key Points

  • Fund NAV unit price was A$4.1963 as at 30 September 2026, with total fund size of A$140 million
  • One-month total return was -2.3% for the fund versus 1.8% for the MSCI World Net Total Return Index benchmark
  • Microsoft was the largest holding at 12.4% of NAV, followed by Amazon at 11.3% and Meta at 9.6%
  • The portfolio held 21 positions with cash weighting of 3.6% and portfolio turnover of 38.1%
  • Management fee is 1.32% per annum with a performance fee of 15.38%

Total Return Performance to 30 September 2026

According to the filing, the fund returned -2.3% over one month, compared with the benchmark return of 1.8%. Over three months, the fund returned 10.0% against 1.5% for the benchmark. The six-month return was 14.5% for the fund and 14.1% for the benchmark. Over one year, the fund recorded -9.3% versus 9.8% for the benchmark. The three-year annualised return was 14.2% for the fund compared with 18.4% for the benchmark, while the five-year annualised return was 6.5% against 12.7%. Since inception on 20 December 2017, the fund has returned 7.8% per annum against the benchmark's 13.1% per annum.

Top 10 Holdings and Portfolio Composition

The filing disclosed that Microsoft represented the largest holding at 12.4% of NAV, followed by Amazon at 11.3%, Meta at 9.6%, KKR at 6.2%, and Mastercard at 5.2%. Visa accounted for 4.9%, BAE Systems 4.4%, Uber 4.2%, S&P Global 4.2%, and Tencent 4.2%. Combined, the top 10 holdings represented 66.6% of NAV. The fund's Australian dollar currency exposure, shown on a look-through basis, was 4.8% of NAV, with cash weighting at 3.6% and annual portfolio turnover at 38.1%.

Key Theme Allocations and Fund Structure

The filing disclosed five internally defined key themes within the portfolio. Discovery Engines and Financial and Data Platforms each represented 17% of NAV, Cloud Computing and Enterprise Software each accounted for 16%, and Digital Marketplaces represented 12%. The fund is managed by portfolio manager Andrew Macken, with the benchmark being the MSCI World Net Total Return Index in Australian dollars. The fund targets distributions of 4.5% per annum, paid semi-annually as at 30 June and 31 December each year. Units can be bought or sold on the ASX or applied for and redeemed directly with the fund.