5AM Capital
Global Equity Fund

Our global fund holds a portfolio of the highest quality businesses we can find across the world with high margins, durable competitive advantages, strong balance sheets and outstanding management teams.

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Global Absolute Return Focus

Our 5AM Capital Global Equities Fund invests in listed equity markets including North America, Europe, and Asia-Pacific. The Fund's strategy is indifferent to the constraints of any benchmark and has an absolute return focus. Our primary focus is high-quality global stocks with durable competitive advantages.

The Fund will generally hold between 20-30 long positions, which we consider provides an appropriate amount of diversification, prospect for alpha, and aligns with our long-term focus. The Fund has broad discretion to invest across various liquid asset classes. The median market capitalization of the Fund’s long holdings is typically in excess of $1 billion.

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Own World-Class Businesses

We identify high-quality, long-term durable, growing, and phenomenally managed businesses. Ideally, these businesses are, or are on their way towards, winning a segment monopoly or oligopoly. Often these businesses have the following attributes:

  • Predictable revenues and earnings
  • Ability to invest significant amounts of capital in their business at high rates of return
  • High operating margins and free cash flow metrics over time
  • Strong balance sheet
  • Durable competitive advantages
  • Range of prospects for the company's next leg of growth

Available On Netwealth: 'Favourable' Rating

Invest directly or via the Netwealth Platform: 5AM Capital Global Equity Fund (APIR Code: GCL3663AU). The Fund is rated "Favourable: Investment Grade" by SQM research, reflecting our robust investment process, the quality of our research, systems and structure and dedication to delivering attractive risk adjusted returns.

We invite you to explore our strategy.

Key Information

  • Minimum Investment: $250,000 AUD. Additional investments of $50,000 AUD or more may be made.
  • Investor Eligibility: Wholesale Clients
  • Currency Exposure: AUD, unhedged
  • Application Processing Frequency: Monthly
  • Management Costs: 1.0% pa
  • Performance Fee: 15% of excess return over the benchmark (8% p.a.). Additionally, the performance fees are subject to a high watermark
  • Primary Focus: High quality global stocks with durable competitive advantages.

Track Record

  • 5AM Capital Track Record: 5AM Capital has delivered an 18% annualised return since inception (from the 1st July 2022 to the 30th April 2025)
  • Prior Track Record: We have a history of managing complex family office portfolios, including a global listed equity strategy delivering 30.1% p.a. during the period Sam was Chief Investment Officer for a substantial single family office (2017-2021)
  • Team: 5AM Capital is supported by a Sydney based investment team and advisory board with decades of listed, unlisted equities and infrastructure investing, investment banking and family services experience.

Where We Are Finding Opportunities

5AM Capital | Where We're Finding Opportunities
Geographic exposure data last updated as of 30 April 2025.
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5AM Capital Global Equity Fund

Overview
Trustee Gannet Capital Pty Limited
Investment Manager 5AM Capital Pty Ltd
Administrator & Registrar Unity Fund Services Pty Ltd
Minimum Investment $250,000 AUD. Additional investments of $50,000 AUD or more may be made.
Portfolio Concentration 15–30 stocks
Target Market Capitalisation US$1bn+
Style High-quality (ideally monopoly) businesses with durable competitive advantages
Cash Weighting No limits
Estimated Turnover ~10% p.a.
Investor Eligibility Wholesale Clients
Currency Exposure AUD, unhedged
Application Processing Monthly
Management Costs 1.0% per annum of NAV, paid monthly
Performance Fee 15.0% of excess return over the hurdle rate and subject to a high-water mark
Objective Double-digit returns compounded over the long term
Hurdle Rate 8% per annum
Recommended Minimum Suggested minimum investment time frame is 5–7 years
Track Record 30.1% compounded return from 06/2017 to 12/2021 (MFO Investments) and 18% annualised for 5AM Capital from 07/2022 to 04/2025

[1] Lesser amounts may be received at the Trustee’s discretion. [2] All fees are exclusive of GST, unless otherwise noted. [3] The Fund has broad discretion to invest across various liquid asset classes. We may (although are unlikely to) short-sell or utilize other hedging techniques to pursue optimisation of investment returns whilst attempting to preserve capital. [4] From 1st July 2022 to 31st Dec 2024.

5AM Capital is a Sydney-based privately owned boutique investment management company. 5AM Capital was established to provide compelling risk-reward investment opportunities to wealthy families and wholesale investors with a focus on capital preservation and growth in high-quality global equities.

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5AM Capital: Own the irreplaceable.

Preservation. Generation. Succession.
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