GSFM launches first-ever climate growth PIE fund | Australian Markets

GSFM, along with fund supervisor companion Munro Partners, has launched a new climate-focused wholesale portfolio investment entity (PIE) fund into the New Zealand market, following the fund’s 2021 Australian debut.  

The long-only Munro Global Growth Climate Leaders PIE Fund boasts a concentrated portfolio of between 15 to 25 high-quality world growth and climate change-focused equities – these, GSFM says, that may reap the advantages from the worldwide structural shift in direction of a low-carbon economic system.

GSFM chief government Damien McIntyre recognised the fund’s deal with “clean energy, sustainable transport, energy efficiency, and the circular economy”.

The fund is predominantly uncovered to industrials (at present representing 59% of the portfolio), with utilities (12%), info technology (10%), money (9%) and miscellaneous holdings (10%) making up the remaining share.

Among its present prime 5 holdings, which is dominated by US listed companies, embrace industrial gasoline and chemical concern, Linde, industrial and unsafe waste management company, Clean Harbors, and Fortune 200 power company Constellation.

The wholesale-only PIE fund, which seeks a internet return in extra of the MSCI All Country World Index, has returned 51.1% cumulative since its inception in October 2021, and 28.9% within the 12 months so far (as at 31 March 2025).

According to McIntyre, the choice to launch as a PIE, which affords sure tax benefits to Kiwi traders (together with a tax price cap of 28% on returns), slightly than as a feeder fund “gives New Zealand investors the most efficient structure for their investment”.

The fund has acquired an initial seed from Munro Partners, and might be distributed regionally by way of Wellington-based GSFM companion Adminis Funds Limited.

McIntyre notes “ongoing discussions” between the fund managers and a number of other KiwiSaver suppliers for added investment alternatives.

The launch of the New Zealand PIE follows the investment strategy of the present Munro Climate Change Leaders Fund, which debuted in Australia in 2021.

McIntyre mentioned the firm’s dedication to New Zealand stays “solid”.

“As our business continues to rapidly grow in the Australian market, we have been looking beyond our shores for the opportunity of that next leg of growth. Given our existing relationships with institutional and wholesale investors in New Zealand, it is a natural extension of our capabilities.”

“We see a great opportunity to broaden reach and accessibility to our fund manager’s partner’s strategies,” he added, with new additions made primarily based on demand within the NZ market for sure asset courses and investment types.

GSFM, established in 2007 as a subsidiary of the Grant Samuel Group and now majority-owned by Canadian wealth management firm CI Financial Corp, at present manages round $10.61 billion in funds (as at 28 February 2025).