PM Capital Global Companies Fund

Investment objective

The PM Capital Global Companies Fund aims to provide long-term capital growth and outperform the greater of the MSCI World Net Total Return Index (AUD) or RBA cash rate over rolling seven year periods. The Fund is not intended to replicate the index.

The Fund is a concentrated portfolio, with its listed equity component typically comprising 25 to 45 securities, when fully invested, across global equity markets.

Investment strategy

PM Capital’s process is based on finding those relatively simple ideas that have been overlooked by the market, including strong companies that are trading at levels different to its view of their intrinsic value.

The Fund has a wide investment universe and will seek to invest capital wherever PM Capital considers the greatest risk reward opportunities exist. The investment process is bottom up and research intensive. It is the same process that identifies both risk and opportunity.

The investment mechanisms that the Fund uses include leverage, derivatives and short selling. The Fund may also be exposed to, and actively trade, global currencies. With respect to the Fund’s approach to seeking to hedge its currency exposure, the level of hedging back to the Australian dollar will depend on PM Capital’s expectation of future currency exchange rate movements and is actively managed with the objective of delivering positive Australian dollar returns.

Investment manager

PM Capital, founded in 1998 by its Chief Investment Officer, Paul Moore, is a Sydney based globally-focused award-winning fund manager that manages money on behalf of private clients and the clients of financial advisers and institutions, with a core focus on global equities and fixed income strategies.¹

[1] Regal Partners (RE) Limited (ACN 083 644 731, AFSL 230222, formerly known as PM Capital Limited) (the Responsible Entity) acts as responsible entity for the Fund. The Responsible Entity was established in 1998 and acquired by Regal Partners Limited (ACN 129 188 450, ASX:RPL) (Regal Partners) in December 2023. The Fund is managed by PM Capital Pty Limited (ACN 689 382 796), a related body corporate of the Responsible Entity that is also a wholly owned subsidiary of Regal Partners.

Unit price

PM Capital Global Companies Fund Unit Price History

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Sell

Past performance is not a reliable indicator of future performance.

Performance

The performance of your investment is measured after taxes and fees within this tax paid fund.

	1 mth	3 mth	6 mth	1 yr	2 yrs	3 yrs
Net return* (%)	-0.55%	0.26%	-1.56%	-5.37%	1.60%	5.67%

^{Past performance is not a reliable indicator of future performance.}^{(*As at 31/07/2026)}

Key features

Key features
APIR code	OVS5674AU
Risk level	6 – High
Minimum initial investment	$500
Minimum additional investment	$500 for a one-off additional payment
Regular investment plan	Minimum monthly deposit of $100
Minimum switching amount	$500
Minimum balance	$500
Total estimated fees and costs	1.06% p.a.
Recommended minimum investment period	Seven years

Target asset allocation

Asset class	Min %	Max %
International listed equities and/or Australian listed equities (including equity indices)	0 – 170% (gross)¹	0 – 110% (net)
International government bonds Australian government bonds	0	30
International corporate bonds Australian corporate bonds (including tradeable loan securities)	0	30
Exchange-traded derivative	0	100
Over the counter (OTC) derivatives	0	100
Other – International/Australia (including unlisted unit trusts (MIS) and other instruments	0	10
Cash, cash equivalent investment, term deposits and senior investment grade debt securities with maturities of 12 months or less.	0	100

1 The total exposure also incorporates the ability to short securities. 170% is the maximum gross exposure (longs + shorts +debt securities).