Ellerston Global Mid Small Cap Fund
Managed by Ellerston Ellerston Global Mid Small Cap Fund is a international equities managed fund operated by Ellerston; PIE-structured.
PIE tax treatment — capped at your PIR (max 28%)
This fund is a Portfolio Investment Entity (PIE) under Subpart HM of the Income Tax Act 2007. Income is taxed at your Prescribed Investor Rate (10.5% / 17.5% / 28%), not your marginal income-tax rate. The fund manager calculates and pays the tax on your behalf — when your PIR is correct, you usually don't need to declare PIE income in your annual tax return. See our PIR guide and PIE tax basics for the full picture, or use the PIR calculator to confirm your rate.
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View this fund on FMA DiscloseAbout this category
Funds investing in shares listed outside Australasia. Includes broad global trackers, regional funds, ESG-focused strategies, and theme funds covering automation, healthcare, water and other sectors.
About Ellerston
Australian boutique with a global mid-small cap strategy distributed in NZ.
See all funds from Ellerston →Common questions
Questions people ask about Ellerston Global Mid Small Cap Fund
Drawn from Google's "People also ask" panel and answered with reference to the fund's filed PDS, Fund Update and FMA Disclose data. Not personal financial advice — for guidance specific to your situation, consult an authorised financial adviser.
What is Ellerston Capital known for?
Ellerston Capital is an Australian investment manager operating the Ellerston Global Mid Small Cap Fund, which focuses on international equities in the mid and small-cap segment. Details about the manager's investment philosophy and track record are available on their website at https://ellerstoncapital.com.
What are the downsides of mid-cap funds?
Mid-cap funds typically carry higher volatility than large-cap funds, as smaller companies are more sensitive to market cycles and economic conditions. They may also have lower liquidity in their holdings, potentially resulting in wider bid-ask spreads when the fund needs to trade. The Ellerston Global Mid Small Cap Fund's risk indicator is disclosed in its Product Disclosure Statement and on the FMA Disclose Register at https://disclose-register.companiesoffice.govt.nz/.
Which fund is better, small cap or mid-cap?
The choice between small-cap and mid-cap funds depends on individual circumstances such as risk tolerance, time horizon, and investment goals—neither category is mechanically "better." The Ellerston Global Mid Small Cap Fund sits in the mid and small-cap range within international equities; to compare it with other funds in this category, see the fund comparison tools on managedfunds.nz, and review the current Product Disclosure Statement via the FMA Disclose Register.
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Frequently asked questions
Mechanical Q&A grounded in the fund's PDS, SIPO, and latest QFU on the FMA Disclose register. Verify against the source before relying on any of this.
Who manages the Ellerston Global Mid Small Cap Fund?
Ellerston Global Mid Small Cap Fund is managed by Ellerston. Australian boutique with a global mid-small cap strategy distributed in NZ.
What asset class is the Ellerston Global Mid Small Cap Fund?
It is a international equities managed fund. Funds investing in shares listed outside Australasia. Includes broad global trackers, regional funds, ESG-focused strategies, and theme funds covering automation, healthcare, water and other sectors.
What are the fees for the Ellerston Global Mid Small Cap Fund?
The current annual fund charge is published in the fund's latest Quarterly Fund Update on the FMA Disclose register: https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Ellerston%20Global%20Mid%20Small%20Cap%20Fund. Always check the current Product Disclosure Statement (PDS) for any additional fees.
Is the Ellerston Global Mid Small Cap Fund a PIE fund?
Yes. The Ellerston Global Mid Small Cap Fund is structured as a New Zealand Portfolio Investment Entity (PIE). Investor tax on the fund's income is capped at the investor's Prescribed Investor Rate (PIR), which has a maximum of 28%. Most NZ-resident retail investors with a taxable income at or below NZ$48,000 qualify for a lower PIR.
How can I invest in the Ellerston Global Mid Small Cap Fund?
The Ellerston Global Mid Small Cap Fund is available via Ellerston directly. Always read the current Product Disclosure Statement before investing.
What is Ellerston Capital known for?
Ellerston Capital is an Australian investment manager operating the Ellerston Global Mid Small Cap Fund, which focuses on international equities in the mid and small-cap segment. Details about the manager's investment philosophy and track record are available on their website at https://ellerstoncapital.com.
What are the downsides of mid-cap funds?
Mid-cap funds typically carry higher volatility than large-cap funds, as smaller companies are more sensitive to market cycles and economic conditions. They may also have lower liquidity in their holdings, potentially resulting in wider bid-ask spreads when the fund needs to trade. The Ellerston Global Mid Small Cap Fund's risk indicator is disclosed in its Product Disclosure Statement and on the FMA Disclose Register at https://disclose-register.companiesoffice.govt.nz/.
Which fund is better, small cap or mid-cap?
The choice between small-cap and mid-cap funds depends on individual circumstances such as risk tolerance, time horizon, and investment goals—neither category is mechanically "better." The Ellerston Global Mid Small Cap Fund sits in the mid and small-cap range within international equities; to compare it with other funds in this category, see the fund comparison tools on managedfunds.nz, and review the current Product Disclosure Statement via the FMA Disclose Register.