Ronald Calvert
Munro Partners and GSFM have launched the Munro Global Growth Long Only PIE Fund into the New Zealand market, giving investors access to Munro’s actively managed global equities strategy.
The Fund is designed for investors seeking long-term exposure to a portfolio of high-quality and growth-oriented equities issued by companies listed across global markets. It invests in 25-50 companies across a range of industries and countries, with a focus on identifying structural growth trends that are underappreciated and mispriced by the market.
It is the second fund that Munro and GSFM have brought to New Zealand, following the launch of the Munro Global Growth Climate Leaders PIE Fund in April 2025, giving New Zealand investors access to Munro’s broader global growth strategy.
Munro Partners CEO Ronald Calvert says the launch reflects the firm’s continued commitment to the New Zealand market and growing interest in its investment strategies.
“We have seen strong interest in our existing PIE fund in the past 18 months and believe now is the ideal time to expand our offering in the New Zealand market,” Calvert says.
“The Fund offers New Zealand investors exposure to a global equities investment strategy that is managed by the highly experienced Munro team, with Nick Griffin and Kieran Moore as co-leads of the fund.
“Our investment process focuses on identifying and investing in global companies that have the potential to grow at a faster rate and a more sustainable basis than the overall market. We group companies into defined Areas of Interest, which represent long term structural growth changes affecting the world. This allows us to identify companies positioned to benefit from strong growth.”
Munro defines a structural growth trend as a durable, long term structural change that results in growth investment opportunities, for example from businesses that derive a competitive advantage from big data or high-performance computing including AI.
Nick Griffin, chief investment officer at Munro Partners, says despite recent market volatility, there are a number of powerful tailwinds supporting global markets.
“Company earnings have been improving while valuations in some areas have become more attractive. This create opportunities for investors in global equities who are prepared to look beyond the obvious market leaders and who stay exposed to structural growth opportunities.
“For example, we continue to see significant opportunities in the AI build-out but also in areas such as decarbonisation, healthcare innovation, security and infrastructure. Our focus is on businesses where earnings remain strong and with the potential for further upside.”
The Munro Global Growth Long Only PIE Fund aims to achieve a return greater than the return of its investment benchmark before fees over a rolling 5-year period. The Fund’s investment benchmark is MSCI World Index Total Return Net NZD.
Adminis Funds Limited is manager and issuer of the fund in New Zealand, and GSFM will distribute the fund to New Zealand wholesale and retail investors.