Montaka Global Extension Fund
Montaka Global Investments has listed the Montaka Global Extension Fund - a quoted managed hedge fund - on the Australian Stock Exchange with the ticker MKAX.
The fund consists of a long portfolio, which invests in a portfolio of major global equities bought at a discount to what the manager estimates is intrinsic value. The fund also consists of a short portfolio of stocks, which the manager believes are deteriorating or overvalued, and which are borrowed and short sold. The fund seeks to hold 15 to 30 long positions and 10 to 40 short positions.
"We focus our deep sector and market knowledge on selecting excellent businesses that are long-term winners, together with robust valuation disciplines, specialist short-selling expertise and portfolio capital protection enhancements," chief operating officer Paul Mason said in a statement on the fund's launch.
The fund has a management fee of 1.25 per cent per annum and a performance fee of 20 per cent of outperformance in any performance fee calculation period.