High quality companies that can compound for many years acquired at a significant discount to our assessment of their intrinsic value
Returns are reported net of all fees. We believe transparency and context matter as much as the numbers themselves.
We invest in durable, high-quality businesses with strong market positions, attractive economics and long reinvestment runways — and we judge our progress over years, not quarters. Our view is that, over time, share prices follow the growth in underlying business value.
The businesses we own continue to grow revenues, expand margins and retain customers, and FY2027 has started well as market focus broadens beyond a narrow set of themes. We remain focused, as always, on compounding capital through the cycle.
5AM Capital Global Equity Fund, net of all fees (Australian financial year, 1 July – 30 June)
| Performance | FY2023 | FY2024 | FY2025 | FY2026 | FY2027 YTD |
|---|---|---|---|---|---|
| 5AM Capital Global Return | +17.6% | +15.5% | +23.8% | (26.4%) | +7.2% * |
Returns shown by Australian financial year (1 July – 30 June). * FY2027 year-to-date is an estimated, unaudited figure as at 14 October 2026; subject to change.
A concentrated, benchmark-agnostic portfolio of the world's most durable businesses.
A focused portfolio of monopolistic, high-quality compounders — not a diversified index.
Enterprise Technology, Network-Effect Platforms, Testing & Commissioning, and Infrastructure.
Benchmark-agnostic, with capital preservation and long-term compounding at the core.
Our team invests personally in the Fund, on the same terms as our clients.
| Period | Unit Price | Quarter |
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We'd be glad to walk you through our portfolio, process and the opportunity we see today.
Past performance is not indicative of future results. Returns are net of all fees including management fees and performance fees. This information is for illustrative purposes only and does not constitute financial advice. The 5AM Capital Global Equity Fund is only available to wholesale investors.
Finalist – Best Fund Manager (Equities)
Australian Wealth Management Awards 2025
