The Munro Global Growth PMA delivered a +2.7% return in September, outperforming its benchmark, the MSCI ACWI TR Index (AUD), which gained +2.3%.
Market overview:
Global equity markets rallied through the month, supported by easing U.S. interest rates, strong corporate earnings, and continued momentum in artificial intelligence development.
Key performance highlights:
- Top contributors: TSMC (Connectivity), Oracle (Digital Enterprise), and Nvidia (High Performance Computing)
- Detractors: Amazon (E-Commerce), Boston Scientific (Innovative Healthcare), and Mastercard (Digital Payments)
- Regional exposure: North America (92%), Asia (7%)
- Sector exposure: Information Technology (34%), Communication Services (18%), Industrials (15%)
Fund snapshot:
- 1-Month Return: +2.7%
- 1-Year Return: +32.7%
- Since Inception (1 July 2016): +20.5% p.a.
- Benchmark (MSCI ACWI TR AUD): +13.7% p.a.
- Excess Return Since Inception: +6.7% p.a.
The Munro Global Growth PMA continues to focus on identifying and investing in the world’s most innovative and globally exposed growth companies—positioned across structural themes such as high-performance computing, digital enterprise, and climate innovation.
📄 Access the full report: Munro Global Growth PMA – September 2025 Report
📞 For more information on how Munro’s strategies can complement your investment portfolio, please contact your Pacific Private Asset Management representative.