Highlights

  • AGX1 provides a long only portfolio of global securities selected through a value approach.
  • The strategy seeks companies the manager considers undervalued.
  • Its objective is to outperform the MSCI All Country World Net index in AUD over an Investment cycle.
  • Management fees and costs were listed at 1.10%.

Antipodes Global Value Active ETF (ASX:AGX1) provides exposure to a long only portfolio of global equities selected through fundamental value research. The manager seeks companies it considers undervalued and constructs a concentrated portfolio. At the time of writing on 6 November 2026, AGX1 was trading at AUD 6.28. Its exposure is shaped by the manager’s assessment of businesses and their valuations, with the MSCI All Country World Net Index in AUD serving as the reference benchmark.

Valuation research shapes global company exposure

The manager’s approach focuses on finding businesses whose market prices do not, in its assessment, reflect their underlying value. A fundamental process considers company characteristics and commercial prospects when forming that view. The result is an actively selected portfolio rather than broad ownership of all benchmark constituents.

An estimated valuation depends on assumptions about future Business outcomes. Those assumptions can change if earnings, financing conditions or competitive positions develop differently from expectations. A share can also remain below an estimated value for an extended period. The value label therefore describes a selection approach, rather than a commitment to a particular investment outcome.

A concentrated mandate and an all country benchmark

The strategy describes a portfolio of at least thirty holdings. That construction parameter establishes a minimum level of company breadth but does not reveal the current weight of each business. Actual concentration depends on how the manager allocates Capital across positions.

The fund aims to outperform its benchmark over an investment cycle. This is an objective, not a reported result. An active global allocation can differ from the benchmark across countries, sectors and individual companies. Those differences can be central to the investment approach and can also cause outcomes to diverge from the wider global share market.

Fund access costs and company risks

AGX1 gives access to the selected Equity portfolio through an exchange traded fund structure. Its units represent an interest in the fund rather than a direct holding in every underlying business. The quoted unit price can differ from the value of the underlying portfolio during trading.

A long only equity portfolio remains exposed to falling share prices. International holdings can introduce currency movements and different legal or economic conditions. Manager selection adds the possibility that a company’s apparent undervaluation reflects a lasting business weakness. The portfolio’s value process must therefore be considered together with the commercial risks of its holdings.

Management fees and costs were listed at 1.10%. Fund size was AUD 392.34 million. A distribution of AUD 0.785 per unit had an ex-distribution date of 1 July 2026, a Record Date of 2 July 2026 and a payment date of 13 July 2026. Distribution amounts can change and do not represent a fixed payment commitment.

Key Insights

AGX1 offers global equity exposure through active value selection and a concentrated portfolio framework. The benchmark defines the reference objective, while the manager’s company assessments determine the actual allocation. Neither valuation estimates nor the objective establish a guaranteed outcome.