Claremont ETF Management Shifts to Montaka Global
Claremont Funds Management announced that it will hand over investment management of its active exchange-traded fund to Montaka Global.
The change concerns the Claremont Global Fund (Hedged) Active ETF, which began trading in February 2024, according to an ASX filing from responsible entity Equity Trustees.
Montaka Global operates out of Sydney and New York and became a subsidiary of MFF Capital Investments after that firm’s 2024 acquisition.
Under the agreement Montaka will assume the role of investment manager and align the ETF’s strategy with its Long Only approach.
The new model retains the original quality-value focus but expands diversification, targeting 15-30 holdings instead of the previous 10-15.
The fund’s objective is long-term capital growth through a portfolio of quality global shares hedged against foreign-currency risk. It aims to beat the MSCI World Net Total Return Index (hedged to AUD) over a rolling five-year period, net of fees.
“The portfolio provides investors with access to a high conviction portfolio of businesses listed on major global stock exchanges. Montaka Global applies a fundamental investment process which focused on investing in high quality global businesses with attractive future prospects trading at attractive valuations.”
Co-portfolio manager Adam Chandler will move to the firm, joining chief investment officer Andrew Macken and fellow manager David Costello. Chandler, who joined Claremont in 2017, previously worked at UBS. Costello entered Montaka earlier this year after an eleven-year stint on Magellan’s Global Listed Infrastructure strategies.
The ETF will be renamed the Montaka Global Investment Fund (Hedged). It will sit alongside the Montaka Global Active ETF and the Montaka Global Long Only fund, with a separate Complex ETF extension also part of the family. All changes remain subject to regulatory approval.
Post-acquisition, the entity will become part of the EQT Group and serve as the responsible entity for those funds before another licensed EQT firm assumes that role, pending approval.
