A focus on international companies Morningstar believes possess sustainable competitive advantages, or with 'wide' Economic Moats™. Targets companies trading at attractive prices relative to Morningstar's estimate of fair value.

GOAT invests in a diversified portfolio of international developed markets (ex-Australia) 'wide moat' companies selected by Morningstar on the basis of their assessment that they are the most attractively priced with competitive advantages that will deliver excess returns more likely than not for 20 years or more, with the aim of providing investment returns, before fees and other costs, which track the performance of the Index.

High conviction Wide Moat international equity strategy.

A focus on quality international companies Morningstar believes possess sustainable competitive advantages, or Wide Economic Moats.

Attractive valuations

Targets companies trading at attractive prices relative to Morningstar’s estimate of fair value.

Morningstar’s core equity research

Fuelled by Morningstar’s rigorous equity research process.

Each Fund provides investors with:
o cost effective and easy access to a diversified portfolio of international listed equities via a single trade on ASX;
o transparency of holdings, pricing and performance;
o flexibility of intraday ASX trading capability; and
o no foreign tax paperwork.

Compared to unlisted actively managed funds, investors benefit from:
o trading via live prices on ASX;
o potentially lower costs;
o liquidity; and
o transparency and intraday trading.

This product is likely to be appropriate for a consumer seeking capital growth to be used as a core or satellite component within a portfolio where the consumer has a medium or long investment timeframe, high or very high risk/return profile and needs daily access to capital.

Type of investment: Exchange Traded Fund (ETF)  An ETF is an open-ended fund that aims to track the performance, before fees and other costs, of a financial market index by investing in a portfolio of securities that constitute the index. Units in an ETF are traded on ASX. As such, a single trade in an ETF on ASX gives investors easy and cost effective access to a diversified portfolio of securities held by the ETF.

Investment purpose  The Fund gives investors a diversified portfolio of international developed markets (ex-Australia) ‘wide moat’ companies selected by Morningstar on the basis of their assessment that they are the most attractively priced with competitive advantages that will deliver excess returns more likely than not for 20 years or more.

Investment objective  Each Fund aims to provide investment returns before fees and other costs which track the performance of its Reference Index in Australian dollars.

Investment strategy  Each Fund employs a passive management strategy of investing directly in the securities that comprise the Reference Index.

GOAT invests in a diversified portfolio of international developed markets (ex-Australia) 'wide moat' companies selected by Morningstar on the basis of their assessment that they are the most attractively priced with competitive advantages that will deliver excess returns more likely than not for 20 years or more, with the aim of providing investment returns, before fees and other costs, which track the performance of the Index.

The Morningstar Developed Markets ex-Australia Wide Moat Focus Index is a rules-based index that comprises from 50 to 100 wide moat companies in developed markets excluding Australia that Morningstar considers are the most attractively priced based on Morningstar's proprietary methodology that considers quantitative and qualitative factors.