Fat Prophets

What Fat Prophets does

Fat Prophets is a Sydney-headquartered, privately held Australian equity research and wealth management firm founded in 2000 by Angus Geddes. The firm produces subscription-based research across Australasian, Global Mining, Global Equities, and Asia coverage, serves more than 25,000 members, and offers wealth management through separately managed accounts (SMAs) spanning Australia, the UK, the US, New Zealand, and broader Asia. Its operating footprint is exceptionally lean at 1-10 employees, having been rationalized from a 2015 peak of approximately 75.

The business operates three interlocking revenue streams: (1) retail and professional subscriptions to its research products, (2) wealth management fees on approximately A$400M in funds under management, and (3) management and performance fees on ASX-listed vehicles — Fat Prophets Corporation (FPC, IPO'd 2017 with ~A$48M raised) and the Global High Conviction Hedge Fund (FATP, listed 2021) — plus the 2024 US Small to Mid Cap AI Fund (SVNP). The group also holds 50% of Marcus Today (acquired 2007) and 50% of Carpe Diem Partners, providing exposure to adjacent investment-media and wealth brands. The firm brands its methodology as "See Further, Arrive First" and has deployed a virtual assistant named "Maya" for member engagement.

The business model is asset-light and content-driven, monetizing intellectual capital through subscription, advisory, and listed-fund channels. Distribution is amplified by mainstream financial media presence and a 25+ year track record. The combination of a small team, two listed vehicles, ~A$400M in FUM, and 25,000+ members supports a stable, mature revenue base, though growth signals are mixed and disclosed financial metrics are limited.

Name

Fat Prophets

Legal name

Fat Prophets Pty Ltd

Website

https://fatprophets.com.au

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

1–10 employees

Short description

Fat Prophets is a Sydney-based, founder-led Australian equity research and wealth management firm founded in 2000, serving 25,000+ members with subscription research, SMAs, and ASX-listed funds (FPC, FATP, SVNP).

Ownership category

akta.pro rank

Product category

Equity Research and Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591)

SIC

Investment Advice (6282)

akta.pro primary industry

Investor Education, Research & Portfolio Analytics Services (Retail) (FSAAAAAO)

akta.pro secondary industry

Execution-Only / Self-Directed Investing Platforms (FSAAAAAI)

Keywords

• Equity research subscriptions
• Wealth management services
• Separately managed accounts
• Stock market research
• Funds management

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Subscription Research Membership: Fat Prophets generates primary revenue through paid subscription memberships providing stock market research across Australasian Equities, Global Mining, Global Equities, and Asia research products. Members receive access to recommendations, reports, webinars, and the fatCHAT daily market commentary.
2. Wealth Management / Managed Accounts: The company manages client portfolios through Separately Managed Accounts (SMAs) offering Concentrated Australian Shares, Income, Global Opportunities, Mining & Resources, Small & Mid-Cap, and Asian Portfolios. Revenue comes from management fees on funds under management.
3. Listed Funds Management: Fat Prophets manages listed investment vehicles including FP Contrarian Fund (ASX:FPC) and previously the Global High Conviction Hedge Fund (ASX:FATP). Revenue generated through fund management fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Fat Prophets is an equity research and wealth management firm that sells paid subscriptions for independent, contrarian stock market research covering Australasian, Global Mining, Global Equities, and Asian markets, delivered through member portals, daily commentary, weekly webcasts, and research archives. The firm also provides Separately Managed Accounts (SMAs) across six model portfolios and manages ASX-listed funds (FP Contrarian Fund and Global High Conviction Hedge Fund), generating revenue through subscription fees, management fees on funds under management, and fund management fees.

Product overview

Fat Prophets provides a comprehensive financial services platform comprising stock market research subscriptions and wealth management services. The research arm includes multiple subscription tiers—fatCHAT (daily market insights from CIO Angus Geddes), WeeklyResearch (Buy/Hold/Sell recommendations), fatWRAP (weekly newsletter), WebCast (live webinars), InvestorAlerts (event notifications), and ResearchArchive (historical reports)—covering Australasian, Global Mining, Global Equities, and Asian markets. The wealth management division offers Separately Managed Accounts with six distinct model portfolios: Concentrated Australian Shares (CAS), Australian Shares Income (ASI), Global Opportunities (GOP), Mining & Resources, Small & Mid-Cap (SMC), and Asian Portfolio. The company also manages listed investment funds including the Global Contrarian Fund (ASX:FPC) and Global High Conviction Hedge Fund (ASX:FATP).

Differentiator

Problem solved

Functional benefit

Brands

• fatCHAT: Daily market-moving insights and contrarian opportunities delivered before the market opens from the desk of CIO Angus Geddes.
• fatWRAP
• fatLITE
• FP Contrarian Fund (ASX: FPC)
• FP Global High Conviction Hedge Fund (ASX: FATP)
• Super Prophets
• MAYA
• Carpe Diem Partners
• Australasian Investment Review (AIR)
• British Investment Digest (BID)

Products and services

• fatCHAT Daily market insights and contrarian opportunities delivered before the market opens, written from the desk of CIO Angus Geddes. Targeted at members seeking timely actionable commentary.
• fatWRAP Weekly members-only newsletter featuring key market highlights and insights from analysts, keeping members informed on what matters most.
• fatLITE

Quantifiable outcome

• 18.92% annualized return since inception (2000-2025) vs 8.42% All Ordinaries Accumulation Index
• +3 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered minor and significant.

• Marcus TodayminorStrategic or Co-development Partner · 1 January 2007Fat Prophets acquired 50% of Marcus Today, an email newsletter service, in 2007 as part of strategic expansion.
• Carpe Diem PartnerssignificantStrategic or Co-development PartnerCarpe Diem Partners is a real estate investment firm in which Fat Prophets owns 50%. It focuses on direct and indirect property opportunities with six funds and $100M of funds under management across numerous properties in Australia. The partnership provides real estate investment opportunities to Fat Prophets members.

Scale indicators5 records

Recent moves25 records

Expansion highlights5 records

Direct peers

• Motley Fool: Subscription-based retail investment research and advisory service with strong brand and multi-channel content delivery, directly comparable to Fat Prophets' subscription model and self-directed investor target audience.
• Seeking Alpha: Crowd-sourced and premium investment research platform serving self-directed retail investors with stock analysis and portfolio ideas — directly overlapping Fat Prophets' contrarian research subscription offering.
• Lonsec: Australia-focused investment research, ratings, and portfolio consulting firm serving financial advisers and wealth managers — direct peer in the Australasian research market.
• Zenith Investment Partners: Australian investment research and ratings provider for financial advisers and institutional clients, with model portfolios — comparable to Fat Prophets' adviser-focused research and SMA offerings.
• Independent Investment Research: Australian specialist investment research house providing equity research and corporate advisory services — directly comparable to Fat Prophets' Australasian equities research subscription product.
• Praemium: Australian managed accounts and investment platform technology provider — directly comparable to Fat Prophets' SMA/wealth management offering in the Australian market.

Broad incumbents

• Morningstar: Global incumbent in investment research, portfolio analytics, and managed portfolio solutions. Overlaps with Fat Prophets across research subscriptions and managed account services, though at vastly larger scale.
• S&P Global: Global incumbent providing investment research, indices, and portfolio analytics — competes with Fat Prophets in the broader investment research and analytics category, particularly for institutional users.
• Bloomberg: Global financial data, news, and research platform. Overlaps with Fat Prophets on premium research and market commentary, particularly for professional and high-net-worth subscribers.

Regional players

• Hargreaves Lansdown: UK-headquartered investment platform with research, wealth management, and fund products. Comparable to Fat Prophets' integrated research + managed accounts model, but serving UK retail investors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/fatprophets
• Facebookfacebook.com/Fatprophets
• LinkedInlinkedin.com/company/fat-prophets

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fat Prophets