OC Funds Management

What OC Funds Management does

OC Funds Management is an Australian boutique investment management firm founded in 2000 and headquartered in Melbourne, specialising exclusively in mid-cap, small-cap, and micro-cap Australian equities. It operates as a distinct investment brand under Copia Investment Partners Limited (AFSL 229316), which serves as the responsible entity, issuer, and distributor, allowing OC to focus solely on investment management. The firm offers four long-only equity strategies: the OC Mid-Cap Fund, OC Premium Small Companies Fund, OC Dynamic Equity Fund, and OC Micro-Cap Fund, all benchmark-unaware and built on bottom-up fundamental research. Revenue is generated through management fees on fund NAV (0.85% for Mid-Cap, 1.20% for Micro-Cap, 1.72% for Dynamic Equity, with Premium Small Companies not specified) and performance fees ranging from 15.375% to 20.5% on outperformance, with high-water-mark protections. OC distributes through approximately 20 Australian investment platforms and a five-person regional distribution team covering VIC/WA, NSW/ACT, NSW, and QLD, serving both retail advisers and institutional clients. Its investment team is led by Head of Investments Robert Frost and Portfolio Manager Nga Lucas, with the firm having won the Money Management Fund Manager of the Year Award in Australian Small Cap Equity five times since 2018. OC holds a UN-supported Principles for Responsible Investment (PRI) signatory status, and multiple funds carry Lonsec and Zenith ratings as of 2025.

Name

OC Funds Management

Legal name

Copia Investment Partners Limited

Website

https://ocfunds.com.au

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

1–10 employees

Short description

OC Funds Management is a Melbourne-based boutique investment manager founded in 2000 that runs four Australian equity strategies focused on mid-cap, small-cap, and micro-cap stocks for retail advisers and institutional clients, including a new mid-cap fund backed by MLC.

Ownership category

akta.pro rank

Product category

Australian Equities Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Mid-Cap Equity (Active) (FSAAAIAB)

Keywords

• Australian equities management
• Small-cap portfolio management
• Micro-cap fund investing
• Active equity management
• Institutional investment management

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Management Fees: Ongoing management fees charged as a percentage of fund net asset value. For the Mid-Cap Fund: 0.85% p.a. of the NAV; Dynamic Equity Fund: 1.72% p.a.; Micro-Cap Fund: 1.20% p.a. (all including GST net of RITC).
2. Performance Fees: Performance fees charged when fund returns exceed benchmark returns. Mid-Cap Fund: 15.375% including GST net of RITC of amount outperforming benchmark (provided returns are positive, above high-water mark); Dynamic Equity Fund: 20.5% above greater of 15% and high-water mark; Micro-Cap and Premium Small Companies Funds: 20.5% of amount outperforming benchmark provided specific conditions are met including minimum 5% absolute return.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

OC Funds Management manages four actively managed Australian equities funds (OC Mid-Cap Fund, OC Premium Small Companies Fund, OC Dynamic Equity Fund, OC Micro-Cap Fund) focused on quality mid-cap, small-cap and micro-cap listed companies. The firm provides professional portfolio management for retail and institutional investors, distributed via 20 investment platforms, adviser networks, and direct institutional relationships, and earns management and performance fees on the assets it manages.

Product overview

OC Funds Management is an Australian investment management firm offering a suite of four equity funds covering different market capitalisation segments: OC Mid-Cap Fund (mid-cap stocks), OC Premium Small Companies Fund (small to mid-cap), OC Dynamic Equity Fund (mid-cap to micro-cap), and OC Micro-Cap Fund (micro-cap). The firm follows a bottom-up, benchmark-unaware investment approach focused on high-quality, undervalued companies with sustainable business models. All funds are distributed through Copia Investment Partners and are available on approximately 20 investment platforms.

Differentiator

Problem solved

Functional benefit

Brands

• OC Premium Small Companies Fund: Designed to deliver strong long-term returns by investing in quality small to mid-cap Australian listed companies with sustainable business models.
• OC Dynamic Equity Fund
• OC Micro-Cap Fund
• OC Mid-Cap Fund

Products and services

• OC Premium Small Companies Fund Actively managed Australian equities fund investing in quality small to mid-cap Australian listed companies with sustainable business models, quality management and attractive investment fundamentals; designed to deliver strong long-term returns for retail and institutional investors. Benchmark: S&P/ASX Small Ordinaries Accumulation Index.
• OC Dynamic Equity Fund Benchmark-unaware actively managed Australian equities portfolio providing access to mid-cap through to micro-cap Australian listed companies, capitalising on select shorter-term opportunities while aiming for long-term capital growth.
• OC Micro-Cap Fund Actively managed fund investing in micro-cap Australian listed companies with sustainable business models and attractive investment qualities, designed for investors seeking portfolio diversification and long-term capital growth. (Previously the OC Concentrated Equity Fund, established December 2003.)
• OC Mid-Cap Fund Long-only, benchmark-unaware Australian equities strategy offering investment exposure to high-quality, well-managed mid-cap stocks in a segment that has produced superior investment returns over the past two decades. Management fee 0.85% p.a. of NAV; performance fee 15.375% above benchmark (subject to high-water mark).

Quantifiable outcome

• OC Mid-Cap Fund returned 21.3% over 12 months, ahead of S&P/ASX Mid-Cap Index return of 18.9%

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Copia Investment PartnerscoreStrategic or Co-development PartnerCopia Investment Partners (AFSL 229316) is the issuer, distributor, and responsible entity of OC Funds Management products. OC partnered with Copia to focus solely on investment management while Copia handles operations, distribution, and compliance.
• Principles for Responsible Investment (PRI)minorOthersOC Funds Management is a signatory to the Principles for Responsible Investment (PRI), a global initiative supported by the United Nations. This demonstrates commitment to responsible investment practices.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Plato Investment Management: Australian boutique asset manager specializing in active equity strategies with a strong focus on mid- and small-cap Australian equities. Directly comparable to OC in segment focus, active bottom-up style, and institutional/retail dual-channel distribution.
• Spheria Asset Management: Boutique Australian equities manager focused on smaller companies and unique listed opportunities. Closely comparable to OC's small/micro-cap franchise and boutique investment-led operating model.
• Airlie Funds Management: Australian active equity boutique with concentrated portfolios across mid- and small-cap names. Highly comparable to OC's benchmark-unaware, high-conviction approach and Australian smaller-company focus.
• Ausbil Investment Management: Active Australian equities manager (owned by New York Life Investment Management) with significant mid- and small-cap exposure. Comparable to OC in product mix, segment focus, and adviser-led distribution.
• Investors Mutual: Boutique Australian equities manager with strong franchise in small- and mid-cap value investing. Directly comparable to OC in client base, segment specialization, and Australian boutique DNA.
• Alphinity Investment Management: Active Australian and global equities boutique. Comparable to OC in boutique scale, institutional/retail distribution model, and Australian equities product focus.
• Eley Griffiths Group: Boutique Australian small-cap equities manager with concentrated, benchmark-unaware approach. Directly comparable to OC's small/micro-cap specialist model and boutique distribution footprint.

Broad incumbents

• Yarra Capital Management: Larger Australian asset manager offering Australian equities (including mid/small-cap) alongside fixed income and multi-asset. Comparable to OC in Australian equities exposure but at much greater scale and product breadth.
• Perpetual Investments: Major Australian incumbent asset manager with broad Australian equities offerings including small/mid-cap strategies. Comparable segment overlap but materially larger, more diversified, and listed.
• Magellan Asset Management: Large Australian equities manager (founded locally). Comparable as an Australian equities specialist but at vastly larger AUM scale and more global focus, offering only partial overlap with OC's smaller-company franchise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/oc-funds-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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

M&A

Investments3 records

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

Frequently asked questions about OC Funds Management