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At a glance performance and information

Eligibility:

Share Dealing Account

ISA

ShareBuilder

SIPP

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Fund:

WS Montanaro Global Select A Acc
Sector:

IA Global
Benchmark:

MSCI World SMID Cap

Discrete calendar year performance

Discrete calendar year performance
Investment	31/03/20 to 31/03/21	31/03/21 to 31/03/22	31/03/22 to 31/03/23	31/03/23 to 31/03/24	31/03/24 to 31/03/25
WS Montanaro Global Select A Acc	50.98%	5.80%	-5.33%	12.64%	-2.75%
IA Global	40.59%	8.39%	-2.65%	16.74%	-0.27%
MSCI World SMID Cap	67.53%	3.40%	-6.95%	18.99%	1.75%

Trailing returns

(*annualised)

Trailing returns
Investment	3 months	6 months	1 year	3 years*	5 years*
WS Montanaro Global Select A Acc	7.06%	-0.38%	10.16%	10.41%	7.44%
IA Global	2.99%	-2.69%	3.83%	10.17%	8.90%
MSCI World SMID Cap	5.78%	0.12%	11.98%	12.70%	10.87%

Overview

Fund Objective: To achieve capital growth in excess of the MSCI World SMID Cap Index (Total Return) over any five year period, after all costs and charges have been taken. Capital invested is at risk and there is no guarantee the objective will be achieved over any time period.

Manager name	Montanaro Asset Management Limited
Manager start date	01 April 2022
Manager Biography	Charles graduated with an honours degree in Anthropology from Durham University in 1976. He spent four years in industry before joining Merrill Lynch in 1980 as a private client broker in London. He joined Dean Witter Reynolds in 1984 and Drexel Burnham Lambert in 1987 as a Senior Vice President where, in both cases, he was their top institutional broker in the UK, joining the high-yield bond department in 1989. In 1990, Charles joined MMG Patricof (now Apax Partners) as a Director of investment banking working with UK private and public smaller companies. In August 1991, he founded Montanaro to specialise in analysing and investing in quoted European smaller companies on behalf of leading institutions. He has since launched and managed several funds and established a strong track record. In addition, he has served on the Boards of two public smaller companies. He was appointed a Director of the Montanaro European Smaller Companies plc on 12 January 2012.

Investment style:	Active,Growth
Region (geographical)	Global

Benchmark	MSCI World SMID Cap
Sector	IA Global
FE fundinfo Rating	2 of 5

Fees & charges

Fees and Charges

Fees and Charges
Charge	Who receives this?	What is it?	Amount
Initial charge:	The fund manager	Charges applied by the fund management company for investing in their fund. Please note that Investment Managers may charge each time you buy new units or shares in a fund or trust. Where Investment Managers would have an entry charge, we will negotiate to have it waived so you will not be charged.	0.00%
Ongoing Charges:	The fund manager	The annual charge paid to a fund manager to cover the costs of running the fund. It is an estimate based on the actual amount charged in the previous year.	0.90%
Performance Fee:	The fund manager	A performance fee joins up the interest of the fund manager and their investors. A performance fee is taken when the fund beats pre-set conditions.	N/A
Typical transaction cost:	The fund manager	The costs of dealing within a fund, which the Investment Manager must pay to continue managing the assets. This includes where the Manager decides to sell one stock and buy another. The costs will vary from one fund to another based on how often the Investment Manager trades and the costs applied when trading.	0.188%*
Dealing commission:	Halifax	The cost of buying or selling some or all of your investment.	£9.50 (per online trade)

*This is an indication based on the market average. The fund’s actual transaction cost will be shown before you place a trade.
Account charges are not included
Key Investor Information Document (KIID)Open KIID document
Fees & Charges

Breakdown

Asset Allocation

Fund size: 65,569,043.81 GBX

Chart date: June 16, 2025

Top 10 Holdings

Top 10 Holdings
Security	Weight
Games workshop group	5.86%
Mtu aero engines ag	5.69%
Rollins, inc.	5.20%
Sartorius stedim biotech	5.00%
Tradeweb markets inc	4.75%
Tyler technologies, inc.	4.42%
Baltic classifieds group plc	4.41%
Adyen n.v.	4.35%
Bentley systems inc	4.33%
Ansys, inc.	4.13%

Sectors

Sectors
Sectors	Weight
Industrials	26.23%
Information Technology	24.79%
Health Care	16.98%
Financials	15.26%
Consumer Discretionary	5.86%
Communications	4.41%
Utilities	4.05%
Materials	1.65%
Money Market	0.77%

World regions

World regions
Country	Weight
USA	49.14%
UK	13.35%
Germany	12.74%
Japan	7.15%
France	5.00%
Netherlands	4.35%
Sweden	3.54%
Switzerland	2.41%
Australia	1.55%
Cash & Cash Equivalents	0.77%

ESG

What is ESG?

ESG stands for Environmental, Social and Governance and is an approach for evaluating to what extent a company works towards social goals. For investors this can be used in order to understand how their funds and the assets they are made up of work towards these goals and use that information to help make sustainable investment choices.

This product uses terms and/or marketing related to sustainability. It does not have a label, but the manager is required to produce a disclosures document.

The FCA website sets out further information in relation to the sustainability labelling and disclosure requirements.

Disclosure Document

WS Montanaro Global Select A Acc