Chris Mackay Boosts Montaka Fund Holdings via Distribution Reinvestment, MFF Capital Investments Reports

MFF Capital Investments’ Ownership and Management of Montaka Funds

MFF Capital Investments Limited, listed on the ASX, owns and manages Montaka Global Pty Ltd, the investment manager of two actively managed ETFs: Montaka Global Fund – Active ETF (ticker MOGL) and Montaka Global Extension Fund – Complex ETF (ticker MKAX). Both ETFs are publicly traded on the ASX, with MFF holding full ownership of the investment manager entity. The company focuses on delivering professional investment management services to unitholders in these funds.

Director Chris Mackay holds significant stakes in both MFF and the Montaka funds, reflecting the integrated corporate structure. His 129,728,751 fully paid ordinary shares in MFF signify a substantial investment in the management business, while his units in MOGL and MKAX align his interests with those of fund investors and demonstrate confidence in the funds’ strategies.

Distribution Reinvestment Acquisitions on 20 July 2026

On 20 July 2026, Mackay acquired additional units in both Montaka ETFs through distribution reinvestment plans (DRPs). He received 422,081.02 units in MOGL at $3.81 per unit and 102,447.19 units in MKAX at $2.90 per unit. DRPs enable investors to automatically reinvest distributions—derived from income and capital gains—into additional units rather than receiving cash payouts.

This reinvestment approach allows compounding growth, as reinvested units generate future distributions. The unit prices applied corresponded to the distribution payment date. Mackay’s participation in the DRPs involved no separate cash payment beyond the reinvestment mechanism, a common option for unitholders seeking to increase exposure without additional capital.

Expansion of Mackay’s MOGL Holdings

Following the reinvestment, Mackay’s MOGL units rose from 11,805,643.69 to 12,227,724.71, a 3.58% increase achieved without out-of-pocket expense. This sizeable holding reflects significant exposure to MOGL’s actively managed strategy. Mackay’s ongoing reinvestment signals confidence in the fund’s performance and distribution potential, reinforcing his long-term commitment.

Growth in MKAX Position Through Reinvestment

Mackay’s MKAX holdings increased from 19,173,563.57 to 19,276,010.76 units, a 0.53% rise. The addition of over 100,000 units at $2.90 per unit underscores his deepening investment in this more complex, potentially broader strategy fund. MKAX’s “Complex ETF” designation suggests exposure to sophisticated or international assets complementing MOGL’s core approach.

Unchanged MFF Shareholding and Core Investment

Mackay’s direct shareholding in MFF remained steady at 129,728,751 fully paid ordinary shares, indicating the July 2026 activity pertained solely to distribution reinvestments in the Montaka funds. This stability highlights the distinction between his equity in the parent company and his growing units within the managed ETFs. His substantial MFF stake represents a core interest in the investment management business, complemented by expanding fund holdings.

Regulatory Compliance and Closed Period Status

The transactions did not occur during a closed period requiring prior written clearance, as confirmed in the Appendix 3Y filing. The distribution reinvestment, being an automatic issuance tied to fund distributions rather than a discretionary trade, was exempt from typical director trading restrictions under ASX listing rules.

Closed periods usually restrict director trading during sensitive times such as earnings announcements. The DRP activity’s classification as an administrative issuance rather than an active purchase is important for transparency and investor confidence.

Distribution Reinvestment as a Wealth-Compounding Strategy

Mackay’s use of DRPs exemplifies a compounding mechanism for unitholders in Montaka funds. Reinvested distributions increase unit holdings, which in turn generate larger future distributions, amplifying growth without additional capital input. His participation in both MOGL and MKAX DRPs indicates a long-term accumulation strategy prioritizing reinvestment over cash income, often favored for tax efficiency or wealth growth.

A director’s active reinvestment signals confidence in fund strategies and performance, potentially reassuring clients about alignment of interests.

ASX Listing Rule 3.19A.2 Disclosure and Director Interest Reporting

The disclosure complies with ASX Listing Rule 3.19A.2, mandating prompt notification of director interest changes. The Appendix 3Y form details prior holdings, transaction nature, consideration, and resulting positions. The update was authorized by Muli Zhou, MFF’s Company Secretary, on 23 July 2026, three business days after the transaction date.

Investor Insights and Director Alignment with Fund Success

Chris Mackay’s reinvestment of distributions rather than cash withdrawal may be interpreted as confidence in Montaka funds’ return prospects. Directors who compound holdings in managed products demonstrate alignment with unitholder interests and conviction in fund strategies. Mackay’s combined holding of over 31.5 million units across MOGL and MKAX represents a significant personal investment in the Montaka ecosystem.

While this concentration entails some risk, the diversified strategies and separate pricing of the two funds mitigate exposure. Prospective investors may view Mackay’s substantial stake as assurance of management’s commitment to fund performance and client alignment.