A pivot to COVID-19 winners has helped the Future Generation Global Investment Company report its strongest operating profit on record.
The fund’s investment in Amazon, Starbucks, Tencent, Alibaba and Mastercard through its pro bono fund managers helped it deliver a return well above benchmark.
The Future Generation Global fund reported a 131 per cent increase in operating profit on Thursday, delivering a 19.4 per cent total shareholder return. The investment portfolio increased by 14.3 per cent, outperforming the MSCI AC World Index by 8.2 percentage points.
That was driven by the strong performance of underlying fund managers like Munro Partners, which returned 41 per cent in 2020.
“The last calendar year was good for us performance wise. We managed the COVID period well,” said Munro Partners chief investment officer Nick Griffin.
Read more on the Australian Financial Review.
