October 2026
Largest Asset Management Public Companies in Australia
Benchmark revenue and EBITDA valuation multiples for public comps like
Macquarie Group, Soul Patts, Charter Hall Group, Australian Foundation Investment Company and Argo Investments.
 | Macquarie Group is an Australian multinational investment banking and financial services group headquartered in Sydney and listed on the Australian Securities Exchange. It operates through four groups: Macquarie Asset Management, Banking and Financial Services, Commodities and Global Markets, and Macquarie Capital, its advisory and principal investment arm. It serves institutional, corporate, government and retail clients, and is one of the world's largest infrastructure asset managers, with A$938.3 billion of assets under management and total assets of about A$403 billion in 2024. The group employs more than 20,000 staff in 34 markets and earns fees and commissions, net interest income and trading and investment income. Its subsidiaries include Macquarie Bank Limited and investments in infrastructure businesses such as Southern Water and Arqiva. Macquarie was founded on 10 December 1969 in Sydney as Hill Samuel Australia, a subsidiary of the UK's Hill Samuel & Co. | $173 | +21% | $66B | $66B | 13.3x | 30.5x | ||
| Washington H. Soul Pattinson, or Soul Patts, is a value-oriented investment house that invests in both public and private markets. As an investor, Soul Patts allocates capital with a view toward taking a long-term position in its investments and on a passive basis. Long-term holdings in the group’s largest investments, TPG Telecom, and New Hope Corporation, contribute about one-fourth of the group’s approximately AUD 13 billion investment’s net asset value. | $32 | +30% | $12B | $11B | 10.5x | 11.0x | ||
| Charter Hall Group is the umbrella group of over 40 retail and institutional unlisted funds, as well as three listed REITs: Charter Hall Long WALE REIT, Charter Hall Retail REIT, and Charter Hall Social Infrastructure REIT. Investment management fees and property services fees from these investment vehicles are the main sources of revenue for Charter Hall. The aggregate portfolio across the platform has one third exposure to office, one third to logistics, and the remainder in retail, social infrastructure and listed equities. Charter Hall co-invests in many of the vehicles, so a portion of its earnings come from rent and fund distributions. The group also earns development revenue on projects that it manages, but this income stream is relatively small. | $13 | -13% | $6.1B | $6.4B | 20.6x | - | ||
| Australian Foundation Investment Co Ltd is an asset management company which invests in Australian and New Zealand equities. It aims to provide shareholders with attractive investment returns through access to a growing stream of fully franked dividends and enhancement of capital invested. Its investment goals are to pay dividends, which, over time, grow faster than the rate of inflation, and to provide attractive total returns over the medium to long term. | $5 | -12% | $5.7B | $5.6B | 24.2x | - | ||
| Argo Investments Ltd is an Australian investment company that offers investors low-cost, conservative, and diverse exposure to Australian companies. It generates revenue from dividends and distributions received from the companies in its investment portfolio. | $6 | -3% | $4.7B | $4.7B | 22.9x | - | ||
| Challenger's core business is selling annuity products in the Australian retirement market and, since November 2016, selling Australian dollar-denominated annuities into Japan's large retirement market. The firm's annuity products provide investors guaranteed regular payments over an agreed term for an upfront lump sum investment, and are designed primarily to protect investors from the longevity risk of outliving their savings. Challenger also operates a funds management business, Challenger Investment Management, which primarily manages investments supporting its annuities business. In addition, Challenger holds a 45% minority stake in Channel Group, the merged entity of Fidante Partners and Channel Capital. | $7 | +12% | $4.6B | $5.2B | 2.5x | 10.7x | ||
| Pinnacle Investment Management Group is an Australia-based multi-affiliate investment management firm. The principal activities of the firm are equity, seed capital and working capital, and providing distribution services, business support, and responsible entity services to a network of boutique asset managers, termed as "affiliates." Apart from deriving revenue from its services, Pinnacle also earns a share of profits from its affiliates via holding equity interests in them. The business is growing rapidly with number of boutiques and FUM growing to 18 and around AUD 203 billion in December 2025, respectively, from seven and AUD 23 billion in December 2016. | $10 | -23% | $2.4B | $2.5B | 24.9x | - | ||
| MFF Capital Investments Ltd is an asset management company. The company invests in a minimum of twenty exchange-listed international and Australian companies. The company's investments are managed on a single portfolio basis, and in one business segment being equity investment, and in one geographic segment, Australia. The investment objective of the firm is to maximize compound risk-adjusted after-tax returns for shareholders by identifying and investing in a minimum of 20 stock exchange listed international and Australian companies with a focus upon those assessed to have attractive business characteristics at a discount to their assessed intrinsic values. | $4 | +4% | $2.1B | $2B | 11.6x | - | ||
| L1 Group was formed through the merger of two Australian investment management firms: Platinum Asset Management, a Sydney-based international equities manager founded in 1994, and L1 Capital, a Melbourne-based boutique founded in 2007 with diversified capabilities across equities, alternatives, and property investments. The combined entity serves a diverse client base encompassing institutional investors, wholesale clients, high-net-worth individuals, and retail investors across both domestic and international markets. The firm had approximately AUD 19 billion in funds under management as of June 2026. | $1 | +6% | $2B | $2B | 3.1x | 7.7x | ||
| L1 Long Short Fund Ltd provides investors with access to an actively managed long and short portfolio of securities and the investment expertise of the manager. The company's investment process combines valuation with qualitative considerations to identify attractive investment opportunities. It operates in one industry, being the securities industry, deriving revenue from dividend and trust distribution income, interest income, and from the sale of its trading portfolio. | $3 | +21% | $1.9B | $610M | 3.0x | - | ||
| BWP Group is an Australian REIT focused on owning warehouse or bulky goods retailing properties with relatively large sites and high visibility and access to arterial roads. The portfolio of properties it owns is diversified across most Australian states and is on long-term leases to Australia’s dominant home improvement chain: Bunnings Group. Bunnings is a wholly owned subsidiary of Wesfarmers, a top-10 ASX-listed company by market capitalization. Wesfarmers owns 23% of BWP. | $2 | -2% | $1.9B | $2.4B | 16.5x | 19.1x | ||
| Australian United Investment Co Ltd (AUI) is an investment company. The company's objective is to take a medium to long-term view and to invest in a diversified portfolio of Australian equities that have the potential to provide income and capital appreciation over the longer term. AUI's funds are invested predominantly in shares of companies listed on the ASX. | $8 | +1% | $1.8B | $1.8B | 11.3x | - | ||
| Magellan Financial Group was established as an active asset manager in 2006, before merging with Barrenjoey Capital Partners in 2026 to add investment banking to its offering and arrest the group's organic earnings decline. The investment banking arm operates across advisory, capital markets, research and execution. It is a strong contender in Australian mergers and acquisitions, IPOs, and equities. The asset management arm, Magellan Investment Partners, predominantly manages listed equities, with private capital a small but growing asset class. Some strategies—notably its flagship global equity strategies—are managed by external investment managers. | $6 | -7% | $1.7B | $1.5B | 10.9x | 14.3x | ||
| Metrics Master Income Trust is a non-bank corporate lender and alternative asset manager specialising in fixed income, private credit, equity, and capital markets. It provides service to the Australian private debt market to investors ranging from individuals to institutions. | $1 | -13% | $1.5B | $1.5B | 11.7x | - | ||
| Deterra Royalties was spun out from Iluka Resources in October 2020, with Iluka retaining a 20% interest. Its only material income generating asset is a royalty covering iron ore produced by BHP from the Mining Area C royalty area in Western Australia. This includes the North Flank mine, producing around 60 million metric tons of iron ore a year, and the South Flank mine, which produces around 80 million metric tons. It also covers most of the Tandanya and Mudlark deposits, which BHP intends to develop in the longer term as part of its plan to operate the MAC production hub for at least 50 years. Consistent with its strategy to grow into a diversified royalty firm, its Trident Royalties purchase is likely to provide modest diversification from iron ore. | $3 | +3% | $1.5B | $1.6B | 9.2x | 9.4x | ||
| WAM Leaders Ltd is an investment company. The company's investment objectives are to deliver a stream of fully franked dividends, provide capital growth over the medium-to-long term, and preserve capital. The company currently engages in investing activities, including cash, term deposits, and equity investments in listed companies. Its portfolio consists of securities of companies from various sectors such as Communication services, Financials, Consumer staples, Health care, and Information technology, among others. | $1 | -12% | $1.4B | $1.3B | ||||
| Perpetual is one of Australia's oldest financial-services firms, founded in 1886. It has three operating segments, with the investments business being the main earnings generator. It is an active manager of listed assets. Perpetual also provides financial planning services to high-net-worth clients via its private segment. In its trust segment, it provides outsourced responsible entity services to funds, as well as custodial and trustee services in the debt capital markets, particularly in securitization issuances. | $12 | -6% | $1.4B | $1.8B | ||||
| PM Capital Global Opportunities Fund Ltd is engaged in investing in a portfolio of listed securities across securities markets. Its investment objective is to increase the value of its portfolio by providing long-term capital growth. The fund seeks to invest in stocks of companies that are operating across diversified sectors. The company offers concentrated strategies for investors. | $2 | +13% | $1.3B | $1.4B | ||||
| BKI Investment Co Ltd invests in a diversified portfolio of Australian shares, trusts, and interest-bearing securities. Its investments are focused on research driven, active equities management, investing for the long term, in profitable companies, with a history of paying attractive dividend yields. The objective of the company is to generate an increasing income stream for distribution to shareholders in the form of fully franked dividends to the extent of available imputation tax credits, through long-term investment in a portfolio of assets that are also able to deliver long-term capital growth to shareholders. | $1 | -4% | $994M | $956M | ||||
| Gryphon Capital Income Trust is a managed investment scheme. Its investment objective is to produce regular and sustainable monthly income while keeping capital preservation as a primary concern. The trust invests in a diversified portfolio of residential mortgage-backed securities (RMBS) and asset-backed securities (ABS) issued by Australian-domiciled entities. It is organised into one main operating segment with only one key function, being the investment of funds predominantly in Australia. | $1 | +3% | $947M | $923M | ||||
| Navigator Global Investments Ltd is a holding company. It invests in a range of diversified alternative asset management companies. The Group's reportable operating segments include Lighthouse and NGI Strategic. It generates maximum revenue from the Lighthouse segment, which operates as an international absolute return funds manager for investment vehicles. The NGI Strategic segment partners with alternative investment management firms and holds several strategic investments on a minority basis. Including the NGI Strategic Portfolio, Marble Capital, Invictus Capital Partners, and 1315 Capital investments. Geographically, the Group generates revenue from contracts with its customers in the United States of America, Cayman Islands (its key revenue-generating region), the UK, and Australia. | $1 | -9% | $906M | $763M | ||||
| Founded in 1991, Generation originally operated as a pooled development fund, focusing on providing capital to businesses in financial services. Today, the firm is structured across three key business lines within wealth management. The first is through Generation Life, the market leader in investment bonds by in-flows, which offers tax-effective products, including investment bonds and annuities. The second business line is Lonsec, a prominent research and ratings provider to the Australian financial services sector, competing against Morningstar and Zenith. The third division provides managed account solutions, a result of the merger between Evidentia and Lonsec Investment Solutions, offering individually owned accounts professionally managed by experienced portfolio managers. | $2 | -56% | $837M | $736M | ||||
| WAM Capital Ltd is a closed-end investment fund, which engages in investing activities, including cash, term deposits, and equity investments. It provides exposure to relative value arbitrage and market mispricing opportunities and manages a diversified portfolio of undervalued growth companies. Its investment objective is to deliver a stream of fully franked dividends, provide capital growth and preserve capital. | $1 | -44% | $798M | $701M | ||||
| Centuria Capital Group is a real estate fund manager with assets under management of AUD 22 billion as of December 2025. A range of investment products is offered on the platform, including listed funds (primarily Centuria Industrial REIT and Centuria Office REIT), unlisted property funds, and real estate credit funds. Centuria co-invests in some of these vehicles—the group is the largest securityholder of the listed office and industrial trusts. The majority of Centuria’s earnings come from management fees on its investment products and distribution income from co-investments. The real estate investments span various sectors, with roughly a third of AUM allocated to office, another third to industrial, and the rest to retail, healthcare, agriculture, and real estate finance. | $1 | -49% | $784M | $1.1B | ||||
| HMC Capital Ltd is an alternative asset manager that invests in high-conviction and scalable real asset strategies on behalf of individuals, large institutions and super funds. The Group's reportable operating segments are: Real Estate, Private Equity, Private Credit, Digital Infrastructure, and Corporate. Maximum revenue is derived from the Real Estate segment, which includes the Group's real estate strategies, including HMC Capital managed HomeCo Daily Needs REIT, HealthCo Healthcare and Wellness REIT, HMC Wholesale Healthcare Fund, the Last Mile Logistics Fund, HMC Unlisted Grocery Fund and HMC Australian Retail Partnership. | $2 | -7% | $782M | $873M | ||||
| Diversified United Investment Ltd is an investment company. Its investment objective is to provide income and capital appreciation over a long term period to shareholders through a portfolio of securities predominantly comprising shares of companies listed on the ASX with additional exposure to international markets. The company based on a medium to long-term view, invests in Australian equities, listed property trusts, and international equities. The majority of its investment portfolio is comprised of Australian equities. | $4 | -7% | $762M | $783M | ||||
| Plato Income Maximiser Ltd is an asset management company. The investment objectives of the company are to generate annual income that exceeds the gross income of the Benchmark and to outperform the Benchmark in total return terms including franking credits over each full investment cycle. All of the company's activities are located in one geographical segment being Australia. | $1 | -4% | $722M | $722M | ||||
| Platinum Capital Ltd is an Australian close-ended investment company. The investment objective of the Company is to provide capital growth over the long term by investing in companies that the Investment Manager perceives to be undervalued by the market. Its investment approach is index-agnostic and seeks to identify and take advantage of opportunities created by anomalies between a company’s share price and its intrinsic value. The Company is organised into one main operating segment with only one key function, being the investment of the Company's funds in equities. | $1 | -4% | $709M | $683M | ||||
| MA Financial Group Ltd is a financial services company. The Group is organised into the following business segments: Asset Management, Lending & Technology and Corporate Advisory & Equities (CA&E). It generates maximum revenue from the Asset Management segment. The Asset Management segment incorporates the provision of asset management services and principal co-investment and strategic investments. The Lending & Technology segment includes the provision of Lending Platforms for loan funding, residential mortgages and Financial Technology. The Corporate Advisory and Equities segment provides corporate advice, underwriting and institutional stockbroking services. The Group mainly operates in Australia. | $3 | -48% | $646M | $6B | ||||
| Qualitas Real Estate Income Fund is a real estate investment management firm that seeks to invest the Trust's capital in a portfolio of investments that provide unitholders with exposure to real estate loans secured by first and second mortgages, predominantly located in Australia. | $1 | -11% | $640M | $631M | ||||
| Carlton Investments Ltd is engaged in the long-term holding of shares and units in entities listed on the Australian Securities Exchange. Revenue for the company is generated in the form of dividends and trust distributions. | $24 | -6% | $623M | $621M | ||||
| Regal Partners Ltd is a specialist alternatives investment manager, offering a diverse range of investment strategies covering hedge funds, private markets and real assets. The Group has one operating segment: the provision of investment management services with the objective of offering investment funds to investors. | $1 | -25% | $595M | $603M | ||||
| Djerriwarrh Investments Ltd is a listed investment company investing predominantly in Australian and New Zealand equities. The company often uses exchange-traded and over-the-counter options to enhance the income return to investors. Its objective is to provide shareholders with attractive investment returns through access to an enhanced stream of fully franked dividends and growth in capital invested. | $2 | -7% | $537M | $569M | ||||
| WAM Global Ltd is an asset management company. It is engaged in investing activities including cash, term deposits, and equity investments. The company makes investments in listed securities. Geographically the company has maximum exposure from the United States of America in their Investment portfolio. | $1 | -23% | $494M | $476M | ||||
| Future Generation Global Investment Co Ltd provides diversified exposure to all over the world equities while also helping to improve the lives of young Australians affected by mental health issues. It is engaged in investing in unlisted unit trusts and deriving income from cash and cash equivalents. The principal activity of the Company is investing in equity fund managers while also investing in organizations promoting wellbeing and preventing mental ill-health in young Australians. | $1 | -2% | $455M | $424M | ||||
| Qualitas Ltd is an alternative real estate investment manager focused on private credit and equity across commercial real estate sectors. The Group has identified two operating segments Funds Management and Direct Lending. Maximum revenue is generated from its Funds Management segment which includes all of its core Funds management activities and includes Funds management fees, performance fees, and other fee income. It also includes dividends and distributions from Qualitas’ Investment and Direct Lending activities. The Direct Lending segment relates to the interest income and expenses relating to activities undertaken by the company's subsidiaries. | $1 | -38% | $452M | $432M | ||||
| Hearts And Minds Investments Ltd is a listed investment company. The company strives to deliver attractive equity investment returns for shareholders while providing funding for Australian medical research. It derives revenue from dividend income, interest income, and the sale of its investments. Geographically, the company has investments in the United States, Australia, Hong Kong, Germany, Canada, and the United Kingdom. | $2 | -18% | $440M | $417M | ||||
| Equity Trustees is an Australian trustee company and wealth manager headquartered in Melbourne. It was established on 10 December 1888 by a Victorian Act of Parliament as Equity Trustees Executors and Agency Company Limited, and since the end of 2015 it has been the main subsidiary of ASX-listed EQT Holdings Limited. The group acts as executor and trustee of estates, trusts and charitable foundations, provides private wealth and philanthropic services, and supplies responsible entity, trustee and fund services to fund managers and corporate clients. It earns its revenue mainly from fees on funds under administration and supervision. Much of its growth has come from buying other trustee and superannuation businesses, including ANZ Trustees in 2014 and Australian Executor Trustees in 2022. Besides Melbourne it has offices in Adelaide, Sydney, Brisbane and Perth. | $15 | -6% | $416M | $407M | ||||
| Whitefield Industrials Ltd is an investment company. The company is engaged in investing in companies and trusts. It operates in one segment namely, the Securities industry. The company derives revenue from dividend income, interest income, and the sale of its investment portfolio. | $3 | -20% | $389M | $384M | ||||
| WCM Global Growth Ltd is a financial services company that invests in a diversified portfolio of globally listed quality high-growth companies sourced from developed and emerging markets outside of Australia, with the primary objective of providing long term capital growth. The group operates solely in the business of investment in companies listed on share markets across the globe. | $1 | -7% | $388M | $364M | ||||
| Future Generation Australia Ltd is an investment company engaged in investing activities including cash, term deposits and investments in underlying funds managed by Australian equity fund managers. | $1 | -5% | $383M | $369M | ||||
| Mirrabooka Investments Ltd is a listed investment company. It is engaged in investing in small and medium-sized companies located in Australia and New Zealand. The company aims to provide medium to long-term investment gains through holding core investments in selected small and medium-sized companies and to provide dividend returns to shareholders from these investments. | $2 | -31% | $359M | $333M | ||||
| Ophir High Conviction Fund (ASX: OPH) is a listed investment trust run by Ophir Asset Management, the Sydney fund manager established in 2012 by Andrew Mitchell and Steven Ng. The fund holds a concentrated portfolio of Australian small and mid-cap listed companies outside the S&P/ASX 50. Ophir manages a family of funds that also includes the Opportunities Fund, the Global Opportunities Fund, the Global High Conviction Fund and Ophir Privates, its pre-IPO investment strategy. Ophir's private-company investments appear in this database in rounds such as Superhero, Buildxact, Send Payments and Mason Stevens. The founders say they invest all of their liquid personal wealth in the Ophir funds and deliberately limit fund capacity, which keeps the portfolio concentrated in a small number of high-conviction holdings. The firm operates from Governor Phillip Tower in Sydney under Australian Financial Services Licence 420082. | $2 | -35% | $352M | $311M | ||||
| Metrics Income Opportunities Trust seeks to provide investors exposure to a portfolio of private credit investments. The investment objective of the Trust is to provide quarterly cash income, preserve investor capital, and manage investment risks. The Trust invests in private credit and other assets such as Warrants, Options, Preference Shares, and Equity. The trust has one operating segment, which is the investment of funds predominantly in Australia. | $1 | -23% | $343M | $341M | ||||
| Australian Ethical Investment Ltd is an Australian-based company engaged in the operating segment of Funds Management. The company is involved in acting as the responsible entity for a range of public offer ethically managed investment schemes and acting as the Trustee of the Australian Ethical Retail Superannuation Fund (Super Fund). The various products offered by the company are Super, Managed funds, ETFs, Insurance, and Pension. | $3 | -37% | $329M | $295M | ||||
| Argo Global Listed Infrastructure Ltd is an investment company that manages a portfolio of listed infrastructure securities of various countries. It invests in companies involved in the construction, development, financing, or operation of infrastructure assets such as electric utilities, midstream energy, gas distribution, airports, railways, communications, marine ports, toll roads, and environmental services. Its portfolio covers a broad range of subsectors across both emerging and developed economies. The company generates revenue through dividends and capital growth from its diversified investments in global infrastructure companies. | $2 | -3% | $325M | $323M | ||||
| Perpetual Equity Investment Co Ltd is an investment company. Its investment objective is to provide investors with an income stream and long-term capital growth in excess of its benchmark (the S&P/ASX 300 Accumulation Index) over a minimum 5-year investment period. The company invests in a concentrated and actively managed portfolio of Australian-listed securities with a mid-cap focus and cash, deposit products, and senior debt, together with opportunistic allocations to globally listed securities. | $1 | -10% | $303M | $282M | ||||
| Pengana Private Equity Trust is an Australia-based company engaged in providing a diversified portfolio of private market investments via a listed investment trust structure. The Trust's investment objective is to generate, over an investment horizon of at least 10 years, returns and capital growth through a selective and diversified approach to private markets. | $1 | +0% | $256M | $254M | ||||
| WAM Microcap Ltd is an investment company based in Australia. Its investment objectives are to deliver a stream of fully franked dividends, provide capital growth in the medium-to-long term, and preserve capital. The company is engaged in making investments in listed companies, and provides investors access to a portfolio of undervalued micro-cap growth companies with a market capitalisation of less than 300 million dollars at the time of acquisition. WAM Microcap also provides exposure to relative value arbitrage and market mispricing opportunities. | $1 | -26% | $242M | $220M | ||||
| Pacific Current Group Ltd invests capital in and provides a range of services to boutique funds-management companies. The company and its controlled entities invest in asset managers, private advisory, placement, and private equity firms. It provides distribution, management, and financing services. Its segments include Boutique investments and Corporate investments. Pacific Current Group has investments in boutique funds-management businesses. It geographically operates in USA, Australia, UK and Luxembourg. It generates its maximum revenue from USA. | $8 | +15% | $217M | $107M | ||||
| AMCIL Ltd is an Australia-based investment company focused on managing a portfolio that covers large and small companies in the Australian equity market. The group invests in sectors such as Industrials, Materials, Healthcare, Consumer Discretionary, Consumer Staples, Information Technology, Banks, Other Financials, Telecom Services, Property Trusts, Utilities, Cash, and Energy. It derives the majority of the revenue from the receipt of dividends and distributions and interest income, and income arising from the trading portfolio and realised income from the options portfolio. | $1 | -18% | $195M | $183M | ||||
| Staude Capital Global Value Fund Ltd is an Australia-based investment company. It is engaged in providing investors with the opportunity to invest in world-wide financial markets through a constructed portfolio of financial assets trading at a discount to their underlying value. The company has one reportable segment. The company is engaged solely in investment activities, deriving revenue from dividend income, interest income and from the sale of its investments. | $1 | -4% | $179M | $127M | ||||
| Cadence Capital Ltd is an investment company that invests in listed equities, with the aim of producing above market risk-adjusted returns over time. The principal activity of the company is to invest primarily in securities located in Australia and internationally. The company intends to take short positions and may also deal in derivatives for hedging purposes. It derives revenue from dividend income, interest income, and the sale of its financial assets. | $1 | +3% | $152M | $47M | ||||
| CVC is an ASX-listed Australian investment company, formally CVC Limited, based in Sydney, which says it has followed a patient, active investment approach since 1985. Today it is a property investment and development company with a portfolio of projects across New South Wales, Queensland and Victoria, including sites at Liverpool, Marsden Park, Donnybrook and Woolloongabba, alongside property-backed loans. In earlier years it also held listed and unlisted equity stakes, ran property and private equity funds, and held 50 percent of the manager of the CVC Emerging Companies Fund, a joint venture with Evans Dixon. It owned a majority of Eildon Funds Management and sold its Eildon Capital Group holding in April 2023. It funds itself partly through convertible notes and capital notes listed on the ASX, and its registered office is in Governor Phillip Tower in Sydney. | $1 | -13% | $137M | $243M | ||||
| WAM Strategic Value Ltd is an investment company. The company is engaged in investing activities, including cash, term deposits, and equity investments. Its investment objectives are to provide capital growth over the medium-to-long term, deliver a stream of dividends, and preserve capital while providing shareholders with exposure to a diversified equities portfolio. | $1 | -3% | $135M | $89M | ||||
| WAM Alternative Assets Ltd is an investment company. Its investment objectives are to deliver absolute returns through a combination of dividend yield and capital growth, while providing diversification benefits to shareholders. The company provides investors with exposure to a portfolio of real assets, private equity, infrastructure, real estate, and private debt strategies. | $1 | -5% | $134M | $132M | ||||
| WAM Research Ltd is engaged in making investments in listed companies, including cash, term deposits, and equity investments. The company's investment objectives are to deliver a stream of fully franked dividends and to achieve a high real rate of return, comprising both income and capital growth, within the risk parameters acceptable. | $1 | -32% | $125M | $123M | ||||
| Tribeca Global Natural Resources Ltd is an Australia-based company. It provides investors with access to an actively managed and concentrated portfolio of Natural Resources Securities, Credit Positions, and Commodity Positions. The company's only operating segment is an investment in securities. Geographically, it has a presence in Australia, Canada, the United Kingdom, and the United States. | $2 | +11% | $124M | $123M | ||||
| Ryder Capital Ltd is engaged in investing in a concentrated portfolio of ASX and small to mid capitalisation securities, bonds, and cash consistent with the company's permitted investments and stated investment objective of achieving long-term growth in capital and income. It earns revenue from dividend income, interest income, and other returns from the investment portfolio. The company predominantly operates in Australia. | $1 | +22% | $120M | $109M | ||||
| Bailador Technology Investments Ltd is an investment company. The company invests in Information Technology businesses. Its objective is to deliver long-term absolute returns to shareholders. It operates in Australia and New Zealand. The company's portfolio consists of SiteMinder, Access Telehealth, RC TopCo, Nosto, Hapana, Rosterfy, PropHero, Updoc, and others. | $1 | -31% | $91M | $81M | ||||
| Spheria Emerging Co Ltd is an investment management company focus specializing in small and microcap companies. The company's investment objective is to provide total returns over the Benchmark; and capital growth, over each full investment cycle. the company operates in a single segment which is investment activities & Geographically it operates from Australia only. | $1 | -22% | $89M | $88M | ||||
| Lion Selection Group Ltd is a mining investment company. The company invests in junior resource companies, providing venture capital to carefully selected mining and exploration companies with development projects. It invests only in small and medium mining and exploration companies with gold and base metal activities in Australia, Africa, and Asia. Its project includes the Pani Gold Project. | $1 | -8% | $85M | $78M | ||||
| Pengana International Equities Limited is an Australian-listed investment company whose operating activity involves investing its Australian capital into businesses operating globally. Its investment objective is to provide shareholders with regular, reliable, and fully franked dividends as well as capital growth. The company invests in high-quality, ethically screened, growing businesses at reasonable prices, focusing on superior risk-adjusted returns over the long term. It operates in one business segment, being investment in securities. | $1 | -14% | $84M | $75M | ||||
| Sandon Capital Investments Ltd is an investment company. Its investment objectives are to preserve shareholder capital, deliver a positive absolute return over the medium term. and to provide shareholders with a growing stream of fully franked dividends. The company engages in investing activities, including cash, term deposits, equity, and debt instruments, and focuses on investing in small to medium-sized companies. | $1 | -24% | $79M | $99M | ||||
| Gowing Bros Ltd operates as an investment and wealth management company in Australia. Its operating segments include Cash & fixed interest, Equities, Private equities, Investment properties, Development properties, Surf Hardware International business, and others. The company generates majority of its revenue from sale of goods (Surf Hardware International). Its geographical segments include Australia, the United States, Japan, and Europe. | $1 | -3% | $78M | $137M | ||||
| Thorney Opportunities Ltd (ASX: TOP) is a listed investment company that aims to produce absolute returns for shareholders over the medium to long term. It is managed by Thorney Investment Group, a privately owned investment company established in 1991 by Alex Waislitz and based at 55 Collins Street, Melbourne, which also manages a second ASX-listed investment company. The company invests in listed and unlisted Australian securities of small to medium capitalisation across sectors including media, automotive, energy and pharmaceuticals. Thorney describes its style as constructivist rather than activist, saying the more it rolls up its sleeves and gets involved, the more it ensures success. Its participation in venture and growth rounds in this database includes the 2020 Metigy Series B. Returns come from dividends, interest and gains on the investment portfolio. | $0 | -22% | $64M | $62M | ||||
| Clime Capital Ltd is an Australian fund manager. The principal activity of the company is investing in securities listed on domestic, international securities exchanges and selected unlisted unit trusts. It is organized into one main segment which operates solely in the business of investment management within Australia. | $0 | -13% | $59M | $75M | ||||
| Acorn Capital Investment Fund Ltd is an Australian listed investment company focused on investing in a diversified portfolio of listed and unlisted emerging Australian companies, also known as microcaps. The fund targets small and emerging companies across various sectors including technology, healthcare, consumer discretionary, and industrials. Its revenue is generated prominently in the form of dividends, distributions, and capital gains from its investment portfolio. The company is based in Melbourne, Australia, and manages investments across public and private markets. | PE & VC+1 | $1 | -- | $53M | $51M | |||
| WT Financial Group Ltd is a diversified financial services company. The company's operating segment includes Business to Business (B2B), Direct to Consumer (B2C), and All other. It derives a majority of its revenue from the Business to Business (B2B) services segment which includes services like financial planning, investment advice, product sales, licensing services, and product offerings delivered to independently owned financial advice practices through its Wealth today, Sentry, Synchron, and M3 advice divisions. In its Direct to Consumer business segment, the company provides various financial advice, mortgage broking, tax, and accounting services directly to wholesale and retail clients under the Spring Financial Group brand. | $0 | +6% | $37M | $32M | ||||
| Microequities Asset Management Group Ltd is an asset management firm. It is a boutique value driven Fund manager specialised in exchange listed industrial microcap and small cap companies. | $0 | -38% | $29M | $28M | ||||
| Morphic Ethical Equity Fund Ltd is an investment company. Its investment objective is to provide superior risk-adjusted returns to shareholders, comprising a combination of capital growth and income, thus allowing franked dividends to be paid to shareholders when prudent, and provided the company has sufficient profit reserves and franking credits available. The company invests in a portfolio of internationally listed securities screened to exclude entities involved in environmentally damaging activities (including coal and uranium, mining and oil and gas), intensive farming and aquaculture, tobacco, armaments, alcohol, and gambling. It earns revenue from dividend income, interest income, and other returns from the investment portfolio. | $1 | -- | $25M | $23M | ||||
| NAOS Absolute Opportunities Co Ltd is an investment company. The company invests in mid-cap listed equities through a long-biased structure with a long-term value focus that can produce positive absolute returns. It operates in Australia and derives revenue from dividend income, interest income and from the investment portfolio. | $0 | -- | $18M | $30M | ||||
| Yuxing InfoTech Investment Holdings Ltd is a China-based conglomerate that is mainly involved in the information home appliances business, investing, and trading. It operates in five segments. The information Home Appliances segment involves the manufacture, sales, and distribution of information home appliances and complementary products to consumer markets. The Investing segment includes trading of securities and investing in financial instruments. The Leasing segment comprises leasing out of properties. The IDC segment consists of construction, operation, and leasing out of properties. The Other Operations segment refers to the trading of miscellaneous materials. It has a business presence mainly in Australia, the People's Republic of China, and Hong Kong. | $0 | -38% | $18M | $27M | ||||
| Elanor Investors Group is an Australian real-estate funds manager and investment company founded in 2014 and based in Sydney. It manages listed and unlisted vehicles holding retail, office, hotel, healthcare and other real assets for institutional and private investors. The group earns investment-management fees, performance fees and returns on co-invested capital. In 2023 it agreed to acquire Challenger's Australian real-estate funds-management platform and associated mandates, materially increasing assets under management. Abu Dhabi Investment Council supported the transaction by transferring mandates and receiving Elanor securities through its Al Mehwar vehicle, with options that could increase the stake. The business later changed its corporate branding, but the transaction documents and security filings identify Elanor Investors Group as the issuer at the deal date. | $0 | -- | $2M | $171M | ||||
| Median | $1 | -7% | $428M | $412M | 6.9x | 10.3x |
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