Antipodes Global Fund (PIE)

FundRock NZ Limited acts as the Manager of the Antipodes Global Fund (PIE), while Antipodes Partners undertakes the role of Investment Manager. The fund was registered under the Financial Markets Conduct Act 2013 in New Zealand on 23 July 2018.

The aim of the fund is to achieve absolute returns in excess of the MSCI All Country World Net Index in New Zealand dollars over a typical investment cycle of 3-5 years.
Net performance

Net performance

Performance chart
Cumulative performance (over selected time horizon)
All returns are net of fees and in NZD terms. Calculations are based on exit price with distributions reinvested, after ongoing fees and expenses but excluding taxation. Inception date of the Antipodes Global Fund (PIE) was 25 July 2018. Past performance is not a reliable indicator of future performance.
Fund and investment manager

How do we operate?

  • The Fund invests in the Antipodes Global Fund – UCITS (Underlying Fund) and cash or cash equivalent securities. The Underlying Fund’s investment exposure is predominantly to a broad range of international shares listed on stock exchanges in developed and emerging markets. Derivatives, including equity shorts and currency positions may be used where the Investment Manager sees attractive opportunities and also to offset specific unwanted portfolio risks and provide some protection from unexpectedly large movements in the value of the portfolio. Derivatives may also be used to amplify positions where the Investment Manager feels strongly about the return potential of an idea. In using derivatives, the Underlying Fund’s total gross exposure may be leveraged to a maximum of 200% of the Net Asset Value. The Underlying Fund’s net exposure will be within a range of 50% to 100% of its Net Asset Value.
  • Given the Fund’s broad mandate and wide range of tools available, its investment performance will depend, to a larger degree than traditional equity investment funds, on Antipodes’ skill in selecting, combining and implementing investment decisions.
  • These features mean that the Fund will not be appropriate for all investors.

For further information on Antipodes Global Fund (PIE), please download and read our Product Disclosure Statement available for download here.

Key facts
 
Unit price & distribution history

Unit price & distribution history

Portfolio profile as at 31st October 2025
Top 10 equity longs (%)
Sector exposure (%)2
Regional exposure (%)1, 3

1 Where possible, regions, countries and currencies classified on a look through basis. 2 GICS Classification. 3 Antipodes Partners classification.

Monthly updates
For historical reports and factsheets, please contact clientservices@antipodespartners.com

For historical reports and factsheets, please contact clientservices@antipodespartners.com

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Now available on the ASX: the Antipodes Global SMID Active ETF (ASX:MIDS)

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This webpage is intended to provide investors a summary to accompany the Product Disclosure Statement for the portfolio investment entities domiciled in New Zealand (the Funds) and managed by Antipodes Partners Limited (Antipodes). The Product Disclosure Statement is available from Antipodes Partners Limited (Antipodes), or the issuer FundRock NZ Limited on www.fundrock.com and on https://disclose-register.companiesoffice.govt.nz/

The information contained in this webpage is not an offer of units in the Funds or a proposal or an invitation to make an offer to sell, or a recommendation to subscribe for or purchase, any units in the Funds. If you are making an investment directly then you will be required to complete the application form, which can be obtained from FundRock. The information and any opinions in this webpage are based on sources that Antipodes believes are reliable and accurate. Antipodes, its directors, officers and employees make no representations or warranties of any kind as to the accuracy or completeness of the information contained in this webpage and disclaim liability for any loss, damage, cost or expense that may arise from any reliance on the information or any opinions, conclusions or recommendations contained in it, whether that loss or damage is caused by any fault or negligence on the part of Antipodes, or otherwise, except for any statutory liability which cannot be excluded. This disclaimer extends to Fundrock, and any entity that may distribute this publication.

The information in this webpage is not intended to be financial advice for the purposes of the Financial Advisers Act 2008 or the Financial Markets Conduct Act 2013. In particular, in preparing this document, Antipodes did not take into account the investment objectives, financial situation and particular needs of any particular person. Professional investment advice from an appropriately qualified adviser should be taken before making any investment. Past performance is not necessarily indicative of future performance, unit prices may go down as well as up and an investor in the fund may not recover the full amount the capital that they invest.  No part of this document may be reproduced without the permission of Antipodes or Fundrock.  Fundrock is the issuer and manager of the Funds. Antipodes is the investment manager of the Funds.

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By clicking I agree below, you confirm that you are an Australian resident, or will only access Fund Information as a unitholder in a Fund issued by Pinnacle Fund Services Limited, and you accept all of the Terms of Use of this website, which may be found here.

By clicking I agree below, you confirm that you are a New Zealand resident, or will only access Fund Information as a unitholder in a Fund issued by Pinnacle Fund Services Limited or Fund Rock NZ Limited, and you accept all of the Terms of Use of this website, which may be found here.

By clicking I agree below, you confirm that you are a qualified / professional investor or equivalent in the United Kingdom or Europe. You also confirm that by accessing this website, you will not contravene, or cause Antipodes or any of its affiliates to contravene, any law that seeks to regulate financial promotions both in the country of your residence and in the country in which you are viewing this webpage and you accept all of the Terms of Use of this website, which may be found here.

By clicking I agree below, you confirm that you are a qualified / professional investor or equivalent in the United States of America. You also confirm that by accessing this website, you will not contravene, or cause Antipodes or any of its affiliates to contravene, any law that seeks to regulate financial promotions both in the country of your residence and in the country in which you are viewing this webpage and you accept all of the Terms of Use of this website, which may be found here.

By clicking I agree below, you confirm that you are a qualified / professional investor or equivalent in the relevant jurisdiction where the vehicle is permitted to be marketed to. You also confirm that by accessing this website, you will not contravene, or cause Antipodes or any of its affiliates to contravene, any law that seeks to regulate financial promotions both in the country of your residence and in the country in which you are viewing this webpage and you accept all of the Terms of Use of this website, which may be found here.

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