Munro

What Munro does

Munro Partners is an Australian boutique investment manager founded in 2016 and headquartered in Melbourne, with a stated additional presence via a Canada page on its corporate site. The firm focuses exclusively on global growth equities and operates a suite of seven funds spanning four strategies: an absolute-return long/short global growth fund (flagship, launched August 2016), a concentrated long-only relative-return fund (October 2019), a thematic climate-change leaders fund (October 2021), and a long-only small-and-mid-cap fund (October 2023). Three of those strategies are also distributed via ASX-quoted active ETFs — MAET (since November 2020), MCCL (since January 2022), and MCGG (since February 2022) — providing retail and advised investors with exchange-liquidity access to the underlying portfolios of 20–50 long positions (plus capital-preservation overlays on the absolute-return mandate, including shorts, puts, currency hedging and cash).

Munro's revenue model is standard active asset management: recurring management fees on funds under management, with performance fees where applicable, billed at annual cadence through product disclosure statements. Pricing is not publicly disclosed; investors must contact the firm (1300 133 451) or consult the PDS. Distribution is multi-channel: direct phone subscription for retail, financial advisors and wealth platforms for advised clients, and direct institutional sales for superannuation funds, family offices and large wealth managers. GSFM Responsible Entity Services Limited acts as the Responsible Entity for all funds, providing regulatory and compliance oversight, while Munro Partners acts as investment manager. As of 31 May 2026 the website reports an AUM figure that is truncated in source ("$.1 billion"), returns since inception of 14.1% p.a. for the flagship (since August 2016), 19.6% for the Concentrated fund, 21.2% for the Climate fund and 38.4% for the Small & Mid Cap fund, and headcount of 11–50 employees. The leadership team comprises founding partners Ronnie Calvert (Chief Executive Officer) and Nick Griffin (Chief Investment Officer), both of whom — along with the broader team — invest alongside clients.

Name

Munro

Legal name

Munro Partners

Website

https://munropartners.com.au

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Munro Partners is an Australian boutique investment manager founded in 2016 that runs a seven-fund, four-strategy global growth equities platform (absolute return, concentrated, climate, small/mid cap), including three ASX-listed active ETFs, serving direct retail, advised, and institutional investors.

Ownership category

akta.pro rank

Product category

Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)

akta.pro secondary industry

Sustainable/Thematic Investing (Climate, Clean Tech, Water, Biodiversity) (FSAAALAB)

Keywords

• Global growth equities
• Investment management
• Actively managed ETFs
• Asset management
• Climate-focused investing

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment Management Fees: Generates revenue through management fees charged on funds under management across their suite of seven funds including Munro Global Growth Fund, Munro Concentrated Global Growth Fund, Munro Climate Change Leaders Fund, and Munro Global Growth Small & Mid Cap Fund. Additional revenue from performance fees where applicable.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Munro Partners is an Australian investment manager that runs a suite of funds focused on global growth equities. The firm offers managed funds and corresponding ASX-listed actively managed ETFs spanning absolute return, concentrated relative return, climate change leaders, and small/mid cap strategies. Capital preservation tools such as cash, shorts, put options, currency hedging, and equity exposure management are applied to smooth the investment journey for investors.

Product overview

Munro Partners is an investment management firm offering a suite of seven investment funds focused on global growth equities. The product lineup consists of three core fund strategies: the Munro Global Growth Fund (absolute return with capital preservation tools), the Munro Concentrated Global Growth Fund (relative return with concentrated positions), and the Munro Climate Change Leaders Fund (climate-focused equities). Each strategy is available as both a direct managed fund and a corresponding ASX-quoted ETF (MAET.ASX, MCGG.ASX, and MCCL.ASX respectively). Additionally, there is a Small & Mid Cap Fund for investors seeking exposure to smaller growth-oriented companies. The funds cover investment areas including innovative health, climate change, emerging consumer, and digital enterprise sectors.

Differentiator

Problem solved

Functional benefit

Brands

• MAET.ASX: ASX quoted fund that tracks the Munro Global Growth Fund with capital preservation focus
• MCGG.ASX
• MCCL.ASX

Products and services

• Munro Global Growth Fund A long/short absolute return global growth equities managed fund that aims to combine a concentrated portfolio of global growth equities with capital preservation tools (increased cash levels, shorts, put options, currency hedging, equity exposure management) to smooth the investment journey. For direct investors, advised clients, and institutional investors.
• MAET.ASX ASX-listed actively managed ETF that invests in and tracks the Munro Global Growth Fund, providing liquid exchange-traded exposure to 30-50 global growth equities with capital preservation tools. For retail and institutional investors seeking listed access.
• Munro Concentrated Global Growth Fund A relative return global growth equities managed fund that takes a traditional but more concentrated approach, being fully invested in 20 to 40 long positions. For investors prioritizing investment returns over capital preservation overlays.
• MCGG.ASX ASX-listed actively managed ETF that invests in and tracks the Munro Concentrated Global Growth Fund, fully invested across 20 to 40 long positions. For investors seeking listed access to a concentrated global growth equity portfolio.
• Munro Climate Change Leaders Fund A concentrated managed fund of global companies enabling or benefiting from the transition to decarbonise the planet. Long-only, climate-focused strategy. For investors seeking thematic exposure to climate change leaders.
• MCCL.ASX ASX-listed actively managed ETF that invests in and tracks the Munro Climate Change Leaders Fund, focused on global companies enabling or benefiting from decarbonisation. For investors seeking liquid listed access to a climate-focused equity portfolio.
• Munro Global Growth Small & Mid Cap Fund A long-only relative return managed fund aiming to maximise long-term capital appreciation by investing primarily in a concentrated portfolio of global growth oriented small and medium capitalisation companies. For investors seeking exposure to smaller-cap global growth equities.

Quantifiable outcome

• 14.1% p.a. returns since inception for Munro Global Growth Fund (Aug 2016)
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• GSFM Responsible Entity Services LimitedcoreOthersGSFM Responsible Entity Services Limited (ABN 48 129 256 104, AFSL 321517) is the Responsible Entity of all Munro Funds. They are the issuer of interests in the Funds and provide regulatory oversight and compliance functions. PDS documents and Additional Information available at www.gsfm.com.au.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Regional players

• BetaShares: Leading Australian ETF issuer whose actively managed global equity ETFs sit on the same ASX alongside Munro's MAET, MCGG, and MCCL, competing for the same retail and advised ETF flows.

Direct peers

• Hyperion Asset Management: Boutique Australian manager focused on global growth equities with concentrated portfolios, targeting advised and institutional clients in a comparable niche to Munro.
• Platinum Asset Management: Australian global equities manager running multiple long-only and absolute-return strategies with international listings, directly comparable to Munro's multi-fund architecture.
• Magellan Asset Management: Australian-listed global equities manager with a similar high-conviction, concentrated global growth strategy and a flagship fund that competes head-to-head with Munro Global Growth Fund.
• Antipodes Partners: Sydney-based global equities manager offering concentrated long-only and absolute-return strategies, competing for similar advised and institutional Australian capital.

Broad incumbents

• Pinnacle Investment Management: Australian multi-boutique platform that distributes affiliate managers, including some with growth-equity strategies that overlap with Munro's product set.
• T. Rowe Price: Global asset manager with established global growth equity strategies and a strong Australian/NZ institutional presence, competing for the same institutional mandates Munro targets.
• Perpetual Investment Management: Large established Australian investment manager offering diversified strategies including global equities, competing with Munro for institutional and advised mandates at much greater scale.
• Capital Group: Large global active manager with a long-running global equities franchise and significant Australian institutional and intermediary presence, overlapping with Munro's institutional channel.

Emerging players

• Loftus Peak: Smaller Australian concentrated global growth manager, overlapping with Munro in targeted technology and growth themes but at meaningfully smaller AUM.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/c/munropartners
• LinkedInlinkedin.com/company/munropartners

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Munro