Equitable Investors Dragonfly Fund

Micro Caps

Small Caps

Emerging Companies

Venture Capital


Special Situations

Investing in attractively priced businesses with sound growth prospects or strategic value.

We aim to deliver returns that exceed the cost of capital.

Performance is measured against the yield on the Five Year Australian Government Bond +5% pa.

We aspire to look in all directions for opportunities. A special characteristic of the dragonfly is its incredible vision. Scientists believe it can see more colour than humans. The dragonfly’s eyes consist of up to 30,000 facets. Each facet points in a slightly different direction, apparently enabling dragonflies to see in all directions at the same time.

August 2021: The ASX earnings season didn’t surprise us much - as most portfolio companies had either issued quarterly updates or provided guidance... but earnings season was a mixed affair across the ASX. Among micro-to-mid caps there were slightly more downgrades than upgrades to consensus revenue... Full Report

contact@equitableinvestors.com.au Tel: (03) 9028 7104 Level 39, 55 Collins St, Melbourne, VIC. 3000


The Fund is an open ended, unlisted unit trust investing predominantly in ASX listed companies. Hybrid, debt & unlisted investments are also considered. The Fund is focused on investing in growing or strategic businesses and generating returns that, to the extent possible, are less dependent on the direction of the broader sharemarket. The Fund may at times change its cash weighting or utilise exchange traded products to manage market risk.

The Fund is only available to "wholesale clients" within the meaning of the Corporations Act 2001.


The Fund aims to provide Investors with medium to long term capital growth by investing in attractively priced businesses with sound growth prospects or strategic value.

The Fund’s benchmark is to exceed the annual yield on Five Year Australian Government Bonds by more than 5% per annum. This benchmark is representative of the level of return Equitable Investors believes an investor may require as compensation for taking on the risks inherent in equity investment.


The directors of the manager have approximately 50 years of combined professional experience in investment markets, focused on those market segments in which higher total returns are most likely to be found, being micro-to-mid cap listed companies, larger strategic opportunities, unlisted growth opportunities & mezzanine or alternative financing. The Fund’s portfolio manager has been a key member of a highly-regarded investment management team for the past four years and prior to that led well-regarded equities research teams.

Unique Opportunities

The Fund is positioned to pursue opportunities not typically on the radar of mainstream investment managers, being predominantly micro- to-mid caps but also alternative investment forms (pre-IPO, corporate debt, hybrid offers & unlisted equity) sourced from an extensive network that may not be widely accessible. The fund has a deliberately expansive investment universe and will invest without regard to free-float weighted sharemarket indices.

Constructive Approach

The manager believes in maintaining frank and open dialogue with the entities in which investments have been made. The manager will offer support & constructive feedback, with the ultimate focus remaining always on maximizing shareholder value. Where there are opportunities to leverage relationships and develop strategic initiatives for the benefit of the investee it will seek to do so. We believe this active approach can enhance returns.

Proprietary Research

The manager is devoted to understanding the business model, the market opportunity and the competitive forces of potential or current investments. The manager considers people to be the key assets of most businesses and therefore seeks to know the people in and around the company. The manager seeks to build a proprietary “mosaic” of information & seeks relevant information from a multiplicity of conventional & unconventional sources.

Alignment of Interests Equitable Investors believe in having a strong alignment with the investor base. The founder intends to place his own equity investment capital into Equitable Investors-managed funds. Equitable Investors’ intention is that at least 50% of performance fees shall be paid in units in the Fund in the first three years of operation.


boutique investment management


Monthly - August 2021

Monthly - July 2021

Quarterly - June 2021

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Quarterly - December 2017

Monthly - November 2017

Dragonfly Fund - Monthly Report - Nov 2017.pdf

Monthly - October 2017

Dragonfly Fund - Monthly Report - Oct 2017.pdf

Monthly - September 2017

Dragonfly Fund - Monthly Report - Sep 2017.pdf

Equitable Investors Pty Ltd is licensed as an Australian Financial Services Licensee (AFSL No. 505824)