Munro Partners launches active global equities strategy

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.

GSFM will distribute the fund to New Zealand wholesale and retail investors.

The strategy will provide long-term exposure to 20 to50 listed equities across global markets, with a focus on identifying structural growth trends underappreciated and mispriced, Munro said.

It aims to achieve a greater return than against the MSCI World Index Total Return Net NZD before fees over a rolling five-year period and will be managed by Munro Partners chief investment officer Nick Griffin and portfolio manager Kieran Moore.

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, which was expanded to retail investors in June this year.

Munro, which manages close to $9 billion in assets, acquired GSFM in August to strengthen its distribution capabilities across the Tasman Sea.

Commenting, Munro Partners chief executive Ronald Calvert said the launch reflects the firm's commitment to New Zealand.

"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 said.

"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.

Meanwhile, Griffin noted 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 creates opportunities for investors in global equities who are prepared to look beyond the obvious market leaders and who stay exposed to structural growth opportunities," he said.

"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."