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  • Auscap High Conviction Australian Equities Fund

Auscap High Conviction Australian Equities Fund

A high conviction, long-only Fund that typically invests in 30-50 Australian companies and targets attractive total return opportunities through disciplined, patient investment.

Fund Overview

The Auscap High Conviction Australian Equities Fund seeks to deliver returns above its benchmark, the All Ordinaries Accumulation Index, after fees, over a recommended minimum investment horizon of five years. The Fund invests in high-quality Australian listed companies that the investment team believes are positioned for long-term value appreciation.

Its investment approach centres on businesses that generate strong cash flows, hold sustainable comparative advantages, and are trading at prices below their assessed intrinsic value.

Through this disciplined quality-first, value-focused philosophy, the Fund builds a high-conviction portfolio of typically 30 to 50 securities, actively managed by Auscap’s experienced investment team.

Entry and exit prices are available here.

QUICKLINKS
FUND FACTS
  • APIR (Daily Platform Class)ASX6124AU
  • Inception date6 April 2018
  • Strategy inception date^1 December 2012
  • DistributionsAnnually
  • Fund size* at 31.12.2025$394.76 M
  • Units on Issue** at 31.12.2025227.96 M
HOW TO INVEST

Investment can be made through key platforms, including:

  • AUSMAQ
  • BT Panorama
  • BT Wrap
  • Dash
  • HUB24
  • Macquarie Wrap
  • Mason Stevens
  • Netwealth
  • OneVue
  • PowerWrap
  • Praemium
Research opinion
AWARDS & MEMBERSHIPS

Portfolio Value of $10,000 Invested – Strategy

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    ["benchmark_7_year"]=>
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    ["benchmark_since_inception"]=>
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    ["growth_3_year"]=>
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Auscap High Conviction Australian Equities Fund Performance – Daily Platform Class

As at
31 December 2025		 Month % 3 Months % 1 Year % 3 Years %
p.a.		 5 Years %
p.a.		 7 Years %
p.a.		 10 Years %
p.a.		 Since Inception1
% p.a.
Fund2 (1.73) (0.53) 15.81 14.59 13.52 13.73 N/A 10.36
Benchmark3 1.26 (0.80) 10.56 11.66 9.72 10.76 N/A 9.71
Over / (Under) (2.99) 0.27 5.25 2.93 3.80 2.97 N/A 0.65

Auscap High Conviction Australian Equities Fund Performance Components

As at
31 December 2025		 Month % 3 Months % 1 Year % 3 Years %
p.a.		 5 Years %
p.a.		 7 Years %
p.a.		 10 Years %
p.a.		 Since Inception1
% p.a.
Distribution5 0.00 0.00 4.02 2.67 1.62 3.62 N/A 3.22
Growth (1.73) (0.53) 11.79 11.92 11.90 10.11 N/A 7.14
Total (1.73) (0.53) 15.81 14.59 13.52 13.73 N/A 10.36

 

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Auscap High Conviction Australian Equities Strategy Performance

As at
31 December 2025		 Month % 3 Months % 1 Year % 3 Years %
p.a.		 5 Years %
p.a.		 7 Years %
p.a.		 10 Years %
p.a.		 Since Inception4
% p.a.
Fund2 (1.73) (0.57) 15.77 14.58 13.53 13.74 9.15 14.95
Benchmark3 1.26 (0.80) 10.56 11.66 9.72 10.76 9.49 9.66
Over / (Under) (2.99) 0.23 5.21 2.92 3.81 2.98 (0.34) 5.29

Auscap High Conviction Australian Equities Fund Performance Components

As at
31 December 2025		 Month % 3 Months % 1 Year % 3 Years %
p.a.		 5 Years %
p.a.		 7 Years %
p.a.		 10 Years %
p.a.		 Since Inception1
% p.a.
Distribution5 0.00 0.00 4.02 2.67 1.62 4.13 5.02 7.02
Growth (1.73) (0.57) 11.75 11.91 11.91 9.61 4.13 7.93
Total (1.73) (0.57) 15.77 14.58 13.53 13.74 9.15 14.95

 

1 6 April 2018
2 Fund returns are calculated net of all fees and expenses and assuming all distributions are reinvested
3 All Ordinaries Accumulation Index
4 1 December 2012

Past performance is not a reliable indicator of future performance.

Numbers may not add due to rounding

IMPORTANT INFORMATION

This material has been provided for general information purposes only and must not be construed as investment advice. This material has been prepared without taking account of the objectives, financial situation or needs of individuals. Before making an investment decision in relation to a Fund, investors should consider the appropriateness of this information, having regard to their own objectives, financial situation and needs, and read and consider the product disclosure statement (PDS) for the Fund prior to making any investment decision. The PDS is available on this website or by calling (02) 9324 4356.  A Target Market Determination has been prepared for this fund in connection with the Design and Distribution Obligations and can be obtained on this website or by calling (02) 9324 4356.

Past performance information provided on this website is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. Investing involves risk including loss of capital invested. Prior to 1 December 2024, the Auscap High Conviction Australian Equities Fund was called the Auscap Long Short Australian Equities Fund. It was previously able to short sell and use leverage as part of its investment strategy, but this ceased on 1 December 2024. None of Auscap Asset Management Limited ACN 158 929 143 AFSL 428014 the responsible entity of the Fund, and GSFM Pty Limited, the distributor of the Fund, their related bodies or associates nor any other person guarantees the repayment of capital or the performance of the Fund or any particular returns from the Fund.

^The inception date reflects when the Strategy, identified by APIR code ASX0001AU, was first made available to investors
*Fund Size includes all classes
**Units on issue includes all classes

 

 

Investment Team

Tim Carleton

Tim Carleton

Chief Investment Officer

Will Mumford

Will Mumford

Deputy Portfolio Manager

Gavin Rogers

Gavin Rogers

Investment Manager

FUND AT A GLANCE
  • An actively managed, concentrated portfolio of 30-50 Australian equities
  • Consistent application of quality first, value-focused investment philosophy
  • Managed by a high-quality, experienced investment team
  • Strong alignment of interests, with the investment team co-invested in the Fund

 

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