Global New Discovery Trust
Global New Discovery Trust
- Investment Report |
- AU PDS |
- NZ PDS |
- Fact Sheet |
Investment Objective
The Trust aims to seek capital appreciation over the longer term by investing in a diversified portfolio of global shares of small and mid-cap companies and aims to outperform the MSCI All Country World Small Mid Cap Index (net dividends reinvested), unhedged, measured in AUD, over a full market cycle before taking into account fees, taxes and expenses.
Investment Focus
A core global stock portfolio that maintains a consistent focus on small- and mid-sized companies globally
Focuses on investing in companies that generate consistent, above-average earnings growth and durably high returns on capital while maintaining a rigorous valuation discipline
Trust Facts
- Inception Date 12-Aug-2021
- ARSN 651 256 316
- APIR ETL6156AU
- Net Assets (AUD M) As of 31-Oct-25 AUD36.35
- Exit Price As of 05-Dec-25 AUD1.0142
- Most Recent Exit Price Change As of 05-Dec-25 AUD0.0065 | 0.64%
- Management Fee 1.00%
- Buy/Sell Spread 0.15%
- Benchmark MSCI All Country World Small Mid Cap Index (net div)
Managers
Top 10 Holdings
As of 31-Oct-25
- MELROSE INDUSTRIES PLC
- STERIS PLC
- BURLINGTON STORES INC
- US FOODS HOLDING CORP
- RB GLOBAL INC
- TECHNIPFMC PLC
- GFL ENVIRONMENTAL INC (EQ)
- ALLEGION PLC
- FLOWSERVE CORP
- NVENT ELECTRIC PLC
Important Risk Considerations
All investments carry risks. Different investment strategies may carry different levels of risk, depending on the assets acquired under the strategy.
Please see the Product Disclosure Statement and Reference Guide for detailed risk considerations.
Eric Braz, CFA
Portfolio Manager
Eric J. Braz, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). As a member of the portfolio management team of the MFS® Global Small-Mid Cap and MFS® US Mid Cap Growth strategies, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions. Eric joined MFS in 2007 as an equity research analyst following his participation in the firm's Summer MBA Internship program in 2006. He assumed his portfolio management responsibilities in 2020. Before joining the firm, he served as a consultant for Bates White, LLC, working in the firm's corporate finance and environmental and product liabilities practices for three years in Washington, D.C. Eric earned a Bachelor of Science degree from Pennsylvania State University and a Master of Business Administration degree from the University of Chicago Booth School of Business, where he was a Robert Toigo Foundation Fellow. He holds the Chartered Financial Analyst (CFA) designation from the CFA Institute.
Peter Fruzzetti
Portfolio Manager
Peter Fruzzetti is an investment officer and equity portfolio manager for the International New Discovery, European Smaller Companies and Global New Discovery strategies at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions. He is based in London. Peter joined MFS in 2000 as an equity research analyst and assumed his current role in 2004. Prior to joining MFS, he worked for Fidelity Investments for six years, serving as an equity research analyst and select portfolio manager. He began his career in the financial services industry in 1993. Peter earned his Bachelor of Science degree in finance from Boston College.
Michael Grossman, CFA
Portfolio Manager
Michael S. Grossman, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®).
Before joining MFS in 2005, Michael spent three years as a research analyst following small and mid-cap commercial services and transportation companies for Essex Investment Management Co., LLC as well as three years as an investment associate in large-cap global equity research for Putnam Investments.
Michael earned his bachelor's degree from the University of Pennsylvania and holds an MBA from Boston College. He is a member of the CFA Institute and the Boston Society of Securities Analysts Society, Inc.
Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration, and active risk management.
Sandeep Mehta
Portfolio Manager
Sandeep Mehta is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). As a member of the portfolio management teams for MFS' European Small Cap Equity and Global Small-Mid Cap strategies, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions.He is based in London. Sandeep joined MFS in 2008 as a research analyst and was named portfolio manager in 2016. Before joining the firm, he was an equity research analyst with Henderson Global Investors. He also served as a software engineer with eTouch Systems for two years and with Verisign for two years, as well as working as an associate consultant at CITIL for two years. Sandeep earned a Bachelor of Science degree from the Indian Institute of Technology (BHU) and holds a Master of Business Administration degree from the London Business School.
Nicholas Paul, CFA
Institutional Portfolio Manager
Nicholas J. Paul, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). Nicholas serves as a portfolio manager for the International Diversification and International Research strategies. He also serves as an institutional portfolio manager and member of the following portfolio management teams: International Large Cap Value Equity, Global Small-Mid Cap Equity and European Smaller Companies. As an institutional portfolio manager, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. Nicholas joined MFS in 2010. He served as an investment product specialist before becoming an institutional portfolio manager in 2018 and being named portfolio manager in 2022. Prior to joining MFS, he spent nine years at Putnam Investments as a vice president and investment product manager. He began his career in financial services in 1999. Nicholas earned a bachelor's degree from West Virginia University and a Master of Business Administration degree with honors from Boston College's Carroll School of Management. He is a CFA charter holder and a member of the Boston Security Analysts Society.
Performance
Total Return (%)
As of 30-Sep-25
(*YTD Updated Monthly, As of 30-Nov-25 , subject to revision and not annualized.)
Important Performance Information
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Past performance is not a reliable indicator of future performance. Net-of-fees performance is based on end-of-month redemption prices after the deduction of fees and expenses and the reinvestment of all distributions. Gross-of-fees performance is the net return with fees and expenses added back. Figures include changes in principal value. Investment return and principal value will vary, and an account may be worth more or less at termination than at inception.
Source: Benchmark performance from SPAR, FactSet Research Systems Inc.
Annual Performance (%)
As of 31-Dec-24
|Benchmark: MSCI All Country World Small Mid Cap Index (net div)
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| Gross of Fees | -21.52 | 18.20 | 12.75 |
| Net of Fees | -22.30 | 17.03 | 11.63 |
| MSCI All Country World Small Mid Cap Index (net div) | -12.86 | 15.30 | 19.77 |
| at NAV | MSCI All Country World Small Mid Cap Index (net div) | |
|---|---|---|
| 2024 | 12.75 | 19.77 |
| 2023 | 18.2 | 15.3 |
| 2022 | -21.52 | -12.86 |
Pricing History
- Exit Price at Close of Trading on: 05-Dec-25
- Exit Price: AUD 1.0142
- Change (AUD) (since 04-Dec-25): 0.0065
- Change (%) (since 04-Dec-25): 0.64
- Market Price (MP):
Historical Exit Price may not be available for all dates.
Historical MP may not be available for all dates.
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Overview
Investment Objective
The Trust aims to seek capital appreciation over the longer term by investing in a diversified portfolio of global shares of small and mid-cap companies and aims to outperform the MSCI All Country World Small Mid Cap Index (net dividends reinvested), unhedged, measured in AUD, over a full market cycle before taking into account fees, taxes and expenses.
Investment Focus
A core global stock portfolio that maintains a consistent focus on small- and mid-sized companies globally
Focuses on investing in companies that generate consistent, above-average earnings growth and durably high returns on capital while maintaining a rigorous valuation discipline
Trust Facts
- Inception Date 12-Aug-2021
- ARSN 651 256 316
- APIR ETL6156AU
- Net Assets (AUD M) As of 31-Oct-25 AUD36.35
- Exit Price As of 05-Dec-25 AUD1.0142
- Most Recent Exit Price Change As of 05-Dec-25 AUD0.0065 | 0.64%
- Management Fee 1.00%
- Buy/Sell Spread 0.15%
- Benchmark MSCI All Country World Small Mid Cap Index (net div)
Managers
Top 10 Holdings
As of 31-Oct-25
- MELROSE INDUSTRIES PLC
- STERIS PLC
- BURLINGTON STORES INC
- US FOODS HOLDING CORP
- RB GLOBAL INC
- TECHNIPFMC PLC
- GFL ENVIRONMENTAL INC (EQ)
- ALLEGION PLC
- FLOWSERVE CORP
- NVENT ELECTRIC PLC
Important Risk Considerations
All investments carry risks. Different investment strategies may carry different levels of risk, depending on the assets acquired under the strategy.
Please see the Product Disclosure Statement and Reference Guide for detailed risk considerations.
Eric Braz, CFA
Portfolio Manager
22YEARS WITH INDUSTRY
4YEARS WITH PORTFOLIOEric J. Braz, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). As a member of the portfolio management team of the MFS® Global Small-Mid Cap and MFS® US Mid Cap Growth strategies, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions. Eric joined MFS in 2007 as an equity research analyst following his participation in the firm's Summer MBA Internship program in 2006. He assumed his portfolio management responsibilities in 2020. Before joining the firm, he served as a consultant for Bates White, LLC, working in the firm's corporate finance and environmental and product liabilities practices for three years in Washington, D.C. Eric earned a Bachelor of Science degree from Pennsylvania State University and a Master of Business Administration degree from the University of Chicago Booth School of Business, where he was a Robert Toigo Foundation Fellow. He holds the Chartered Financial Analyst (CFA) designation from the CFA Institute.
Peter Fruzzetti
Portfolio Manager
32YEARS WITH INDUSTRY
4YEARS WITH PORTFOLIOPeter Fruzzetti is an investment officer and equity portfolio manager for the International New Discovery, European Smaller Companies and Global New Discovery strategies at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions. He is based in London. Peter joined MFS in 2000 as an equity research analyst and assumed his current role in 2004. Prior to joining MFS, he worked for Fidelity Investments for six years, serving as an equity research analyst and select portfolio manager. He began his career in the financial services industry in 1993. Peter earned his Bachelor of Science degree in finance from Boston College.
Michael Grossman, CFA
Portfolio Manager
26YEARS WITH INDUSTRY
4YEARS WITH PORTFOLIOMichael S. Grossman, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®).
Before joining MFS in 2005, Michael spent three years as a research analyst following small and mid-cap commercial services and transportation companies for Essex Investment Management Co., LLC as well as three years as an investment associate in large-cap global equity research for Putnam Investments.
Michael earned his bachelor's degree from the University of Pennsylvania and holds an MBA from Boston College. He is a member of the CFA Institute and the Boston Society of Securities Analysts Society, Inc.
Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration, and active risk management.
Sandeep Mehta
Portfolio Manager
18YEARS WITH INDUSTRY
4YEARS WITH PORTFOLIOSandeep Mehta is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). As a member of the portfolio management teams for MFS' European Small Cap Equity and Global Small-Mid Cap strategies, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions.He is based in London. Sandeep joined MFS in 2008 as a research analyst and was named portfolio manager in 2016. Before joining the firm, he was an equity research analyst with Henderson Global Investors. He also served as a software engineer with eTouch Systems for two years and with Verisign for two years, as well as working as an associate consultant at CITIL for two years. Sandeep earned a Bachelor of Science degree from the Indian Institute of Technology (BHU) and holds a Master of Business Administration degree from the London Business School.
Nicholas Paul, CFA
Institutional Portfolio Manager
27YEARS WITH INDUSTRY
4YEARS WITH PORTFOLIONicholas J. Paul, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). Nicholas serves as a portfolio manager for the International Diversification and International Research strategies. He also serves as an institutional portfolio manager and member of the following portfolio management teams: International Large Cap Value Equity, Global Small-Mid Cap Equity and European Smaller Companies. As an institutional portfolio manager, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. Nicholas joined MFS in 2010. He served as an investment product specialist before becoming an institutional portfolio manager in 2018 and being named portfolio manager in 2022. Prior to joining MFS, he spent nine years at Putnam Investments as a vice president and investment product manager. He began his career in financial services in 1999. Nicholas earned a bachelor's degree from West Virginia University and a Master of Business Administration degree with honors from Boston College's Carroll School of Management. He is a CFA charter holder and a member of the Boston Security Analysts Society.
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Performance
Performance
Total ReturnTotal Return (%)
Monthly | QuarterlyAs of 30-Sep-25
(*YTD Updated Monthly, As of 30-Nov-25 , subject to revision and not annualized.)MORNINGSTAR RATINGImportant Performance Information
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Past performance is not a reliable indicator of future performance. Net-of-fees performance is based on end-of-month redemption prices after the deduction of fees and expenses and the reinvestment of all distributions. Gross-of-fees performance is the net return with fees and expenses added back. Figures include changes in principal value. Investment return and principal value will vary, and an account may be worth more or less at termination than at inception.
Source: Benchmark performance from SPAR, FactSet Research Systems Inc.
Annual PerformanceAnnual Performance (%)
As of 31-Dec-24
|Benchmark: MSCI All Country World Small Mid Cap Index (net div)
annual rate of return table 2022 2023 2024 Gross of Fees -21.52 18.20 12.75 Net of Fees -22.30 17.03 11.63 MSCI All Country World Small Mid Cap Index (net div) -12.86 15.30 19.77 at NAV MSCI All Country World Small Mid Cap Index (net div) 2024 12.75 19.77 2023 18.2 15.3 2022 -21.52 -12.86 PricingPricing History
- Exit Price at Close of Trading on: 05-Dec-25
- Exit Price: AUD 1.0142
- Change (AUD) (since 04-Dec-25): 0.0065
- Change (%) (since 04-Dec-25): 0.64
- Market Price (MP):
Maximum data displayed is for the most recent 10 yearsHistorical Exit Price LookupEnter date for which you wish to obtain a Historical Exit Price for this fundHistorical Exit Price may not be available for all dates.
Historical MP LookupEnter date for which you wish to obtain a Historical MP for this fundHistorical MP may not be available for all dates.