Fund Overview

The Ellerston Australian Emerging Leaders Fund is made up of a portfolio of between 30-60 smaller companies we’ve identified as being the next leaders in their respective industries.

The Fund adopts a unique investment process that aims to produce consistent returns over time.

Attractive risk/reward: an exposure to the smaller end of the small cap market (note: portfolio has a typical market cap of AUD$650m) gives investors access to attractive growth opportunities which can provide a source of uncorrelated returns throughout different market environments.
Under-researched: smaller cap securities tend to have lower levels of broker coverage compared with their large cap peers, which leads to an information asymmetry that can be leveraged by those willing to undertake fundamental research.
Diversification: smaller cap securities help to diversify a portfolio. The larger end of the Australian stock market is highly concentrated and dominated by particular sectors (i.e. Financials and Materials); smaller cap securities can provide diversification in a variety of other sectors.

The Fund employs an active, research-driven investment approach which seeks to identify a portfolio of smaller cap companies with the aim of delivering superior returns to the benchmark over time.

The Fund invests in companies that are believed to have the potential to deliver significant upside over the medium term, and where there is a reasonable margin of safety to mitigate downside risk. Investments will generally be made in companies that have sound business franchises with attractive earnings profiles that operate in growth industries and trade at a discount to valuation.

Ellerston Australian Emerging Leaders Fund is available on the following platforms:

BT Panorama
Hub24
Macquarie Wrap
Insignia Financial
Netwealth
AMP North
Praemium
CFS Edge
uXchange / Super Simplifier

Disclaimer

Unit Prices

Download historical prices

Date	Fund	Application	NAV	Redemption	Frequency
07/05/2026	Ellerston Australian Emerging Leaders Fund	1.1531	1.1502	1.1473	Daily

Strategy Performance

As at 30/04/2026	1 Month	3 Months	1 Year	3 Years p.a.	Since Inception p.a.
Ellerston Australian Emerging Leaders Fund – Class A Units	7.2%	-7.7%	5.2%	14.7%	2.9%
S&P/ASX Small Ordinaries Accumulation Index	3.3%	-10.4%	15.3%	8.7%	2.3%
Alpha	3.9%	2.7%	-10.1%	6.0%	0.6%

Disclaimer

The performance figures are net of taxes, fees and expenses and assuming distributions are reinvested. The benchmark is the S&P/ASX Small Ordinaries Accumulation Index.

*Since inception is 16 August 2021. Past performance is not a reliable indicator of future performance, nor a promise of future returns.

The performance figures presented are for the Ellerston Australian Emerging Leaders Fund – Class A Units (ARSN 647 979 333). The one month return figure may be an estimate and not the final return. This estimate also impacts other performance information provided. Estimated performance figures (where indicated) are preliminary and subject to change. Returns for other classes may differ slightly. Past performance is not indicative of future performance. Ellerston Capital Limited ABN 34 110 397 674 AFSL 283 000 is the responsible entity for the Ellerston Australian Emerging Leaders Fund – Class A Units (ARSN 647 979 333). The information supplied above has been prepared by Ellerston Capital Limited without taking account of the objectives, financial situation or needs of investors. Before making an investment decision about any Fund persons should obtain advice from an appropriate financial adviser, consider their own individual circumstances and obtain a copy of the relevant Product Disclosure Statement for the Fund which is available on this website. This material has been prepared based on information believed to be accurate at the time of publication. Assumptions and estimates may have been made which may prove not to be accurate. Ellerston Capital undertakes no responsibility to correct any such inaccuracy. Subsequent changes in circumstances may occur at any time and may impact the accuracy of the information. To the full extent permitted by law, none of Ellerston Capital Limited, or any member of the Ellerston Capital Limited Group of companies makes any warranty as to the accuracy or completeness of the information in this website and disclaims all liability that may arise due to any information contained in this website being inaccurate, unreliable or incomplete.

Performance Graph

Fund Name	31/12/2025	05/03/2025	31/12/2024	30/06/2024	31/12/2023	Distribution Frequency
Ellerston Australian Emerging Leaders Fund – Class A Units	A$0.00553	A$0.01765	A$0.0030	Nil	Nil	Half-yearly

Disclaimer

Strategy Performance

As at 30/04/2026	1 Month	3 Months	1 Year	3 Years p.a.	Since Inception p.a.
Ellerston Australian Emerging Leaders Fund – Class A Units	7.2%	-7.7%	5.2%	14.7%	2.9%
S&P/ASX Small Ordinaries Accumulation Index	3.3%	-10.4%	15.3%	8.7%	2.3%
Alpha	3.9%	2.7%	-10.1%	6.0%	0.6%

Disclaimer

The performance figures are net of taxes, fees and expenses and assuming distributions are reinvested. The benchmark is the S&P/ASX Small Ordinaries Accumulation Index.

*Since inception is 16 August 2021. Past performance is not a reliable indicator of future performance, nor a promise of future returns.