Track Record

Tony and Chris have worked together for over a decade in Australian Small cap investing.

Tony and Chris first met as analysts at institutional stockbroker CCZ Equities, then were part of the Small Companies team at Investors Mutual Limited before running the Ausbil Micro Cap Fund. Over the 7-year tenure of the Ausbil Microcap Fund under Tony & Chris’ management, it won several awards including the MoneyManagement and Lonsec Fund Manager of the Year Australian Equities Small Cap award in 2014 & 2016 and the Australian Fund Manager Association’s Golden Calf Award for the best Australian Small Companies Fund in 2015. The QVG Opportunities Fund is the culmination of Tony and Chris combined 30 year plus experience in the Australian smaller companies listed investment markets including over a decade together and with experience from leading Australian funds management houses.

The QVG team are a multi award winning team with a combined experience of over 30 years in ASX small companies market. This experience has been demonstrated with a track record of top quartile performance.


Principal & Portfolio Manager

Tony Waters is a Portfolio Manager of the QVG Opportunities Fund and a Founder of QVG Capital. Tony has 27 years’ experience in financial markets most recently as the Portfolio Manager of the Ausbil Micro Cap Fund from its inception till April 2017. Tony joined Ausbil from Investors Mutual in 2008. Before that he spent 9 years as a small cap analyst at institutional stockbroker CCZ Equities. In addition to his smaller company coverage Tony was a highly-rated Gaming, Tourism and Leisure analyst.

Tony has a Bachelor of Business from Avondale College, a Graduate Diploma in Applied Finance & investment from FINSIA and has completed the CPA Programme.


Principal & Portfolio Manager

Chris Prunty is a Portfolio Manager of the QVG Opportunities Fund and a Founder of QVG Capital. Chris has 18 years’ experience in financial markets most recently as the Co Portfolio Manager of the Ausbil Micro Cap Fund having joined Ausbil at the inception of the fund in February 2010. Prior to Ausbil, Chris was an analyst researching smaller companies at Investors Mutual and Confluence Asset Management. Before Confluence, Chris covered specialty retailers and small cap industrial stocks at institutional stockbroker CCZ Equities. Chris was also a graduate at AMP Capital.

Chris has a Bachelor of Arts and a Bachelor of Commerce from the Australian National University and is a CFA charterholder.



Portfolio Manager

Josh Clark is a Portfolio Manager at QVG Capital. Josh has 12 years’ experience in financial markets and prior to joining QVG Capital worked for Ophir Asset Management across their Mid-cap and Small-cap strategies.  Prior to Ophir, Josh was the sole Analyst for the Ausbil Microcap Fund, working closely with Portfolio Managers Tony Waters and Chris Prunty. Prior to joining Chris and Tony on the Ausbil Microcap Fund Josh held Quantitative Analyst roles at both Ausbil and Bell Potter Securities. Preceding Bell Potter, Josh worked at Colonial First State within the Alternative Products Team.

Josh has a Bachelor of Applied Finance from Macquarie University and is a CFA charterholder.



Head of Distribution

Andrew Aitken is the Head of Distribution at QVG Capital and is leading the Sales and Marketing efforts across all client segments. Andrew join QVG Capital in October 2017 and has over 26 years’ of experience in the Funds Management industry. Prior to joining QVG Capital, Andrew worked in executive roles in Distribution, Accounting, Product Management and Client Services. Most recently he was Head of Distribution for Bennelong Funds Management having previously held senior roles at both Ausbil Dexia and IOOF.

Andrew holds a Bachelor of Business from the University of Technology and is a qualified Chartered Accountant.



Head of Client Services and Operations

Rebecca Holgate is the Head of Client Services and Operations at QVG Capital and works closely with the Head of Distribution assisting in the sales and marketing efforts. Rebecca joined QVG Capital in November 2019 and has 13 years financial services experience. Prior to joining QVG Capital Rebecca held roles in operations, sales and marketing and client services. Her most recent role was Operations Manager at Bennelong Funds Management, having previously held roles with Shed Enterprises; a third party financial marketing firm, prior to this Rebecca had a successful career in the property industry.

Rebecca holds an Advanced Certificate in Property Agency.

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