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Dynamic Small Companies Fund

APIR code: ETL6978AU

Ratings & Awards

Why choose the Dynamic Small Companies Fund?

Our Dynamic Small Companies fund is designed to deliver alpha over the benchmark with a focus on delivering strong risk-adjusted returns. With the ability to move dynamically across styles and sectors, the Fund is benchmark unaware from both a sector and security perspective. Our focus on founder-led companies is driven by the view that owners and managers have a strong vested interest in their company’s continued success.

Since inception in October 2019, the Fund has captured approximately 114% of up markets and 69% of the down market after fees, as at March 2025*.

Our active management investment philosophy means constant monitoring of buy and sell signals, allowing the Dynamic Small Companies Fund to take advantage of mid-cap opportunities while preserving the small-cap nature of the portfolio.

*Markets refers to S&P/ASX Small Ordinaries (TR) Index. Disclaimer: Past performance is not necessarily an indicator of future performance.

Fund Overview

The Milford Dynamic Small Companies Fund is a dedicated small to mid-cap equity fund. The Fund targets outperformance of the S&P/ASX Small Ordinaries (TR) Index over the minimum recommended investment timeframe of 8 years (net of fees).

The Fund primarily invests in small to mid-cap listed or soon-to-be-listed Australian equities, providing exposure to a diverse range of quality, growing companies across a wide range of sectors. The Fund’s average holdings over time are approximately 60-80 companies, and it has the ability to hold up to 20% cash, 20% in mid-caps, and to invest in 20% NZ equities.

Portfolio Managers

Michael Higgins

William Curtayne

This Fund is for investors seeking:

Milford Small Caps on Livewire

Milford’s Michael Higgins talks to Livewire about the hunt for sustainable growers. In this Livewire Fund in Focus episode, he shares insights into some of the founder-led stocks that the Dynamic Small Companies Fund is backing today, a classic ‘growth at a reasonable price’ play that has so far been ignored by the market, and outlines what makes this strategy unique compared to the myriad of other small-cap funds available to Australian investors.

Note: This interview was recorded on Thursday 24 October 2024.

Invested in expertise, performance and trust

When you invest with Milford you get a world-class investment partner dedicated to delivering strong long-term returns and outstanding adviser engagement.

We take a hands-on approach to investing, constantly re-evaluating investments pursuing the best returns possible for our clients. Our ability to move quickly means we can take advantage of opportunities as they arise and manage risk along the way.

It’s our policy that our staff invest their own money in the same funds as our clients, so you can be certain our team is highly motivated to have your funds do the best that they can because we’re on the same journey.

In-depth research is the foundation upon which this is built. From top-down macro economic insights to bottom-up company research, our 40-strong investment team leaves no stone unturned.

We have a large and globally experienced investment team with an impressive track record, including winning the Morningstar Overall New Zealand Fund Manager of the Year 2023.

Key Fund Facts
Benchmark	S&P/ASX Small Ordinaries (TR) Index
Inception Date	01 October 2019
APIR	ETL6978AU
Recommended investment timeframe	8 years +
Minimum investment	$1,000
Risk level	High
Management fee	1.23%
Performance fee	20.50% p.a. of returns above the Fund Benchmark to be paid annually
Income distribution	Bi-annually at 31 December and 30 June

Key Documents Download

Dynamic Small Companies Fund Highlights

Market Updates • Events • Funds Reports • Investment Masterclass

Disclaimer: Past performance is no guarantee of future returns. Net performance figures are shown after all fees and expenses, and assumes reinvestment of distributions. Figures over one year have been annualised.

The Milford Dynamic Small Companies Fund inception date is 1 October 2019. This fund was previously referred to as the Milford Dynamic Fund (AU).

Disclaimer

Equity Trustees Limited (“Equity Trustees”) (ABN 46 004 031 298), AFSL 240975, is the responsible Entity for the Milford Australia Funds. Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).

Milford Australia Pty Ltd (“Milford”) ABN 65 169 262 971 (AFSL 461253) has prepared this advertisement as investment manager of the Dynamic Small Companies Fund to provide you with general information only. In preparing this advertisement, we did not take into account the investment objectives, financial situation or needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither Milford, Equity Trustees nor any of its related parties, its employees or directors, provides any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. Please read the Fund’s Product Disclosure Statement at milfordasset.com.au/documents-and-forms before making a decision to invest in this product.

Past performance is not a reliable indicator of future performance. The Dynamic Small Companies Fund Target Market Determination is available at milfordasset.com.au/documents-and-forms. The Target Market Determination is a document describing who this financial product is likely to be appropriate for (i.e. the target market), and any conditions around how the product can be distributed to investors. It also describes the events or circumstances where the Target Market Determination for this financial product may need to be reviewed.