GROWTH INVESTORS

 

We are growth investors. Of the 20,000 listed corporations in the world, many profess to be growing, but only a small portion actually grow independently of the broader economic cycle. This is where the Munro investment process focuses. Our research process has been designed and honed over 14 years to successfully sift through the world’s listed corporations to find sustainable growth trends that are underappreciated and mispriced by the market, and the resulting winning and losing stocks.

 

Absolute returns

 

Munro runs the long/short absolute return mandate with the liquid alternative, CI Munro Alternative Global Growth Fund.

 

Index-unaware, aiming for meaningful absolute returns through the investment cycle, while maintaining a capital preservation mindset. Munro’s flexible investment mandate allows it to dynamically manage its market exposure and its currency exposure to protect clients' capital and to enhance the long-term returns of our investments.

 

Relative returns

 

Munro runs the long-only relative return mandate with CI Munro Global Growth Equity Fund.

 

It focuses on building a long-only portfolio of 20 to 40 growth equities that will benefit from structural changes through a disciplined investment process that provides access to a fully invested portfolio. The objective of the fund is to maximize long-term capital appreciation, primarily through a concentrated portfolio of growth-oriented equities issued anywhere in the world.

 

Stock picker

 

The investment process generates a high-hit rate of performing ideas and allows them to be appropriately sized and monetized over long periods. Concentration on stock and sector is important, while risk management and rigorously eliminating underperforming positions is crucial in generating strong absolute returns and outperformance over multiple market cycles.

 

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ACTIVE RESEARCH

At Munro, investing is a process of covering the globe and continuously meeting with management teams. With an “on the ground presence,” Munro’s founding partners built a strong 14-year performance track record by averaging 500 company meetings a year, assembling a focused 1,000-stock universe, and owning a network of over 3,000 key contacts.

DISCIPLINED PROCESS


Munro runs a comprehensive and disciplined investment process that seeks earnings upside/downside visibility, valuation multiple upside/downside and catalyst visibility. In addition, the portfolios are managed within clear risk parameters and a disciplined drawdown management framework.


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Munro is an active manager focused on delivering absolute returns.

OUR TEAM

Nick Griffin

Nick Griffin

Founding Partner, Chief Investment Officer

Nick is a Founding Partner and Chief Investment Officer of Munro Partners. Nick is responsible for the investment management of Munro’s key investment funds and the formulation and implementation of the proprietary investment process. Nick has been managing global long/short equity mandates for over 12 years. Nick’s key career highlights include:- Over 20 years’ working in financial services with 13 years of funds management experience- 2005-2015: Head of International Strategy on the K2 Select International Absolute Return Fund- Member of the K2 Asset Management asset allocation and currency exposure committee- 2000-2005: Senior Analyst (global oil and gas) at Deutsche Bank U.K.- 1996-1999: Manager, Australian Equities for Commonwealth Financial Services.Nick holds a Bachelor of Commerce (Hons) from the University of Melbourne, a Graduate Diploma in Applied Finance and Investment, and is a Registered Representative of the Sydney Futures Exchange.



James Tsinidis

James Tsinidis

Partner, Portfolio Manager

James joined Munro Partners in November 2016 and is responsible for championing stock ideas and managing these positions within the Munro Global Growth Fund over time. James has previously worked as a portfolio manager when he was based in both Melbourne and Edinburgh, and was entirely focused on the U.S., European and Asian stock markets. Having worked previously with the other members of the Munro investment team, James is well versed in evaluating investment ideas using Munro’s proprietary growth-focused process. Key career highlights include:- Over 12 years of financial services experience- 2013-2016: Portfolio Manager/Senior Investment Analyst on the K2 Select International Absolute Return Fund- 2012-2013: Research Manager – Alternatives at Zenith Investment Partners.James holds a Bachelor of Commerce from La Trobe University and a Postgraduate Certificate of Applied Finance from Macquarie University.



Jeremy Gibson, CFA

Jeremy Gibson, CFA

Partner, Portfolio Manager

Jeremy joined Munro Partners in September 2017 from Pictet Asset Management in London, one of the leading independent asset managers in Europe with over US$150 billion in assets under management. Jeremy is responsible for championing stock ideas and managing these positions within the Munro Global Growth Fund. While at Pictet, Jeremy gained over 10 years’ experience across a range of products including global equities, EAFE (Europe, Australasia and Far East) small cap equities and developed Asia market neutral long/short small mid cap equities. Jeremy’s track record of generating alpha over an extended time horizon prompted Pictet to give him a mandate to co‐launch the Developed Asia Market Neutral Long/Short Small Mid Cap Fund in 2016. The fund, managed exclusively by Jeremy and his co‐founder, exhibited strong positive performance from launch, resulting in repeat injections of additional funding by Pictet’s Hedge Fund Investment Committee. Key career highlights include:- Over 14 years of financial services experience spanning roles in Melbourne and London- Pioneered the Developed Asia Market Neutral Long/Short Small Mid Cap Fund for Pictet Asset Management in London with positive performance from launch- 2011‐2017: Senior Portfolio Manager on the EAFE Small Caps Fund at Pictet Asset Management in London, ranking top of its peer group in 2015- 2007‐2011: Investment Professional on the Global Equities Fund at Pictet Asset Management in London.Jeremy is a Chartered Financial Analyst (CFA) and holds a Postgraduate Diploma of Applied Finance and Investments from the Securities Institute of Australia together with the U.K. IMC (Investment Management Certificate). Jeremy holds a Bachelor of Business (Economics and Finance) from RMIT University.



Kieran Moore

Kieran Moore

Partner, Portfolio Manager

Kieran joined Munro Partners in July 2016. Working closely with the Chief Investment Officer, Nick Griffin, Kieran is responsible for stock research, portfolio analytics and trading processes at Munro Partners. Kieran has performed over the past four years as an international equities analyst, primarily focusing on global growth equities and undertaking similar functions regarding research, modelling, portfolio analysis and trading. Kieran holds a Bachelor of Commerce from the University of Melbourne, with majors in finance and economics, as well as a Juris Doctor Law Degree from the University of Melbourne.



EXPERT INSIGHTS

 

Thought leaders and portfolio managers from across CI Global Asset Management offer insights into the trends, events, policies and politics that are creating investment risks—and opportunities—around the world.

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