Tony Waters
Founder & Portfolio Manager
30+ years experience | Ex-Ausbil Micro Cap Fund
Investment Philosophy
Conviction Over Convention
QVG's disciplined approach to small and mid-cap investing,
refined over 20+ years of market experience
189%
Opportunities Fund Return
132%
Long Short Fund Return
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Our Investment Principles
01
Deep Research
- Bottom up fundamental analysis.
- Direct engagement with management teams.
- Deep understanding of industry dynamics.
- Focus on small and mid-cap companies.
02
Alignment
- Performing for clients is the reason we exist.
- QVG staff own QVG Capital; a true boutique.
- We eat our own cooking (invest in our own funds).
03
Conviction & Discipline
- We back our research by concentrating capital in our best ideas.
- Valuation disciplines are built into the portfolio management process.
- Fundamentals and prices can diverge; this is our opportunity.
04
Humility (& volatility!)
- Smaller companies are volatile.
- We strive to take a long-term view, balanced against nimble responses to changing fundamentals.
- We won't get them all right but share the pain (and gain) with our investors.
Leadership
Experience
Experience
& Expertise
Decades of experience in small and mid-cap investing
Chris Prunty
Co-Founder & Portfolio Manager
CFA | 20+ years experience | Ex-Ausbil Micro Cap Fund
Josh Clark
Portfolio Manager
CFA | 15+ years experience | Ex-Ophir Asset Management
Rebecca Holgate
Head of Client Services
15+ years experience | Operations & Investor Relations
"Investment success comes from deep research, disciplined execution, and unwavering focus on our circle of competence. We don't chase trends—we invest where we have conviction."QVG Investment Team
Investment Solutions
Our Funds
QUALITY. VALUE. GROWTH.
Long Short Equities Fund
Open
QVG Long Short Fund
Net Return
+13.22% p.a.
Since inception in May 2019
An all-cap portfolio that has the ability to go long or short companies.
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Australian Equities Fund
Closed to new investors
QVG Opportunities Fund
Net Return
13.35% p.a.
Since inception in September 2017
A concentrated portfolio of high-conviction investment opportunities across Australian small and mid-cap equities.
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Discover how QVG's investment philosophy can work for eligible investors.