Alphinity

What Alphinity does

Alphinity Investment Management is an Australian active, boutique equities manager headquartered in Sydney. The firm was co-founded in 2010 by Stephane Andre, Andrew Martin, Bruce Smith, and Johan Carlberg, is majority owned by its employees, and operates Australian and Global equity strategies through six fund vehicles: the Alphinity Australian Share Fund (35-55 stocks), the Concentrated Australian Share Fund (20-35 stocks), the Global Equity Fund offered as an ASX Active ETF (XALG) and a UCITS sub-fund, the Sustainable Share Fund (Australian-listed), and the Global Sustainable Equity Fund as an Active ETF (XASG). Underlying research is driven by two proprietary models: the Composite Research Model (CRM) for Australian shares and the Alphinity Quantitative Model (AQM) for global shares, both combining fundamental analyst research with quantitative signals to identify companies in earnings upgrade cycles.

Alphinity's investment platform is extended by an ESG and responsible investing stack comprising an ESG materiality framework (40+ factors), an SDG Alignment Framework (350+ products/services), a Net Zero Alignment Framework with scenario analysis, a Good Governance Assessment, a Human Rights Framework, and a Responsible Finance Framework. The firm is a PRI signatory since 2011 (A+ rating for Overall Strategy & Governance and ESG Incorporation; A rating for Active Ownership) and both sustainable funds are RIAA Sustainable Plus certified. Distribution is multi-channel: Fidante (a Challenger Ltd subsidiary) handles administration and institutional business development; Boardroom provides direct retail registry; the funds are available on mFund (ALH02) and as ASX Active ETFs; and the UCITS vehicle extends reach to UK/EU professional investors.

The revenue model is a recurring asset-based model comprising management fees (0.50%-0.95% p.a. depending on fund and share class) and performance fees (10-15% above benchmark/hurdle) on the Concentrated Australian Share Fund and Global Equity strategies. Reported long-term track records as at June 2026 include the Australian Share Fund at 10.0% p.a. over 10 years (vs 9.4% benchmark), the Concentrated Australian Share Fund at 9.9% p.a. (vs 8.8%), and the Sustainable Share Fund at 10.9% p.a.

Name

Alphinity

Legal name

Alphinity Investment Management Pty Ltd

Website

https://alphinity.com.au

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Alphinity Investment Management is a Sydney-based, staff-majority-owned boutique active equities manager offering Australian and Global equity funds across Core and Sustainable strategies, distributed via Fidante/Challenger, ASX Active ETFs (XALG, XASG), and a UCITS vehicle.

Ownership category

akta.pro rank

Product category

Active Equity Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Large-Cap Equity (Active) (FSAAAIAA)

Keywords

• Active equity management
• Australian equities
• Global equities
• Sustainable investing
• ESG integration

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Management Fees: Recurring fees charged as a percentage of assets under management (AUM) across all fund strategies. Fees vary by fund: Australian Share Fund 0.90% p.a., Concentrated Australian Share Fund 0.80% p.a., Global Equity Fund 0.75% p.a., Sustainable Share Fund 0.95% p.a.
2. Performance Fees: Variable fees charged when fund returns exceed benchmark. Concentrated Australian Share Fund charges 15% above S&P/ASX 200 Accumulation Index. Global Equity Fund charges 10% above MSCI World Net Total Return Index (AUD) with RBA cash rate target as absolute return hurdle.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Alphinity is an active, boutique equities investment manager that runs Australian and Global equity funds across Core and Sustainable strategies, applying a proprietary relative-earnings-surprise approach that combines fundamental analyst research with quantitative signals. The firm offers six distinct fund vehicles, including unlisted managed funds and ASX-listed Active ETFs (XALG, XASG), and a UCITS sub-fund for European professional investors, with portfolios constructed from concentrated "best ideas" stock selections.

Product overview

Alphinity is an active equities investment manager offering a platform of six distinct fund products across Core and Sustainable investment strategies. The Core funds include the Alphinity Australian Share Fund (35-55 stocks, S&P/ASX 300 benchmark), Alphinity Concentrated Australian Share Fund (20-35 stocks, S&P/ASX 200 benchmark), and Alphinity Global Equity Fund available as Active ETF (ASX:XALG) or UCITS vehicle (25-40 global stocks). The Sustainable funds—the Alphinity Sustainable Share Fund (Australian-listed stocks) and Alphinity Global Sustainable Equity Fund – Active ETF (ASX: XASG)—apply UN SDG alignment criteria and ESG exclusions. All funds employ Alphinity's proprietary earnings leadership investment philosophy combining fundamental and quantitative research, with sustainable variants additionally aligned to UN Sustainable Development Goals and certified by RIAA.

Differentiator

Problem solved

Functional benefit

Products and services

• Alphinity Australian Share Fund A diversified portfolio of 35-55 Australian-listed companies designed as a core equity position, aiming to outperform the S&P/ASX 300 Accumulation Index after costs over rolling five-year periods. Management fee 0.90% p.a., no performance fee, minimum investment $10,000 or $1,000 with Regular Savings Plan.
• Alphinity Concentrated Australian Share Fund A high-conviction concentrated portfolio of 20-35 Australian-listed stocks for investors seeking higher returns with additional volatility tolerance, benchmarked against the S&P/ASX 200 Accumulation Index. Management fee 0.80% p.a., performance fee 15% above benchmark, mFund ticker ALH02.
• Alphinity Global Equity Fund - Active ETF (ASX:XALG) A high-conviction diversified portfolio of 25-40 global companies available as an ASX-listed Active ETF (ticker: XALG) or unlisted managed fund, targeting outperformance of the MSCI World Net Total Return Index (AUD) over rolling three-year periods. Management fee 0.75% p.a., performance fee 10% above benchmark.
• Alphinity Sustainable Share Fund A diversified portfolio of Australian ASX-listed stocks with net positive alignment to UN Sustainable Development Goals, exceeding Alphinity's minimum ESG criteria and applying exclusions for activities incongruent with SDGs. Management fee 0.95% p.a.
• Alphinity Global Sustainable Equity Fund - Active ETF (ASX: XASG) A diversified portfolio of 25-40 global sustainable companies with net positive alignment to UN SDGs, available as dual-access Active ETF (ASX: XASG), with exclusions aligned to the Fund Charter for activities incongruent with SDGs. Performance fee 10% above MSCI World Net Total Return Index (AUD).
• Alphinity Global Equity Fund - UCITS A UCITS-structured sub-fund of Fidante Partners Liquid Strategies ICAV, domiciled in Ireland with daily liquidity, available exclusively to professional investors (Class I: minimum USD 10m at 0.50% p.a.; Class R: minimum USD 10k at 1.25% p.a.), benchmarked against MSCI World Net Total Return Index (USD).

Quantifiable outcome

• Australian Share Fund: 10.0% p.a. over 10 years vs benchmark 9.4% p.a. (as at June 2026)
• +5 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Ten partnerships are on record, tiered strategic, core and minor.

• CSIROstrategicStrategic or Co-development Partner · 1 January 2023Alphinity collaborated with CSIRO to develop a Responsible AI Framework for investors. The partnership addressed additional ESG considerations throughout the AI value chain and resulted in a comprehensive framework published by CSIRO that helps investors assess AI-related risks and opportunities.
• Dhawura Ngilan Business and Investor Initiative (DNBII)strategicStrategic or Co-development Partner · 1 January 2023Alphinity is participating as a pilot partner to trial the application of the Dhawura Ngilan Business and Investor Initiative Guides in investment and stewardship processes. The pilot aims to improve assessment of First Nations-related risks and opportunities and runs from September 2025 to July 2026.
• UN-backed Principles for Responsible Investment (PRI)coreOthers · 1 January 2011Alphinity has been a signatory to PRI since 2011, demonstrating commitment to responsible investment practices. Alphinity is also a member of the Responsible Investment Association of Australasia (RIAA) and contributes to collaborative engagement initiatives.
• FidantecoreChannel Partner/ Reseller/ DistributorFidante is a wholly owned subsidiary of ASX-listed Challenger Ltd and performs administration and distribution functions for Alphinity, allowing Alphinity employees to focus solely on generating investment success for clients. Fidante handles back-office operations, client registry services, and business development for distribution across platforms and institutional clients.
• Challenger GroupcoreOthersASX-listed parent company of Fidante. Challenger Group provides strategic support and ownership alignment for Alphinity through its Fidante subsidiary.
• BoardroomcoreOthersRegistry service provider for Alphinity funds. Boardroom handles the Invest Online functionality, processing investor transactions and maintaining shareholder records for direct investors.
• Climate Action 100+coreOthersCollaborative engagement initiative that Alphinity actively supports, focusing on climate change and corporate emissions reduction among portfolio companies.
• Investor Group on Climate Change (IGCC)minorOthersIndustry group that Alphinity actively supports, contributing to collective action on climate-related investment risks.
• FAIRRminorOthersFarm Animal Investment Risk & Return initiative that Alphinity actively supports, focusing on protein supply chain and agricultural sustainability risks.
• HESTA 40:40 VisionminorOthersGender diversity initiative that Alphinity actively supports, aiming for 40% women in leadership positions across the investment industry.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• BlackRock: World's largest asset manager with iShares passive and active equities franchises; broad incumbent competitor pressuring active fees and AUM share industry-wide, including in Alphinity's domestic and global equity categories.
• Perpetual Limited: Long-established Australian investment manager with broad active equities, fixed income, and multi-asset capability; competes for institutional mandates and platform distribution across the same domestic equities segment as Alphinity.

Direct peers

• Yarra Capital Management: Australian boutique active equities manager with institutional focus on Australian and global mandates; competes for similar institutional superannuation and wholesale mandates as Alphinity.
• Pendal Group: Australian diversified active asset manager with significant Australian equities capability; broad incumbent competitor across institutional, wholesale, and retail channels in the same domestic mandates as Alphinity.
• Hyperion Asset Management: Sydney-based boutique active equities manager focused on Australian and global listed equities — directly comparable to Alphinity in philosophy, product mix, and target institutional/wholesale client base.
• Magellan Financial Group: Australia-listed global equities specialist with flagship Magellan Global Fund; competes with Alphinity's Global Equity and Global Sustainable Equity strategies for institutional and retail investor mandates.
• Lazard Asset Management: Global active equities specialist with concentrated international/global strategies; comparable to Alphinity Global Equity in philosophy and institutional client focus, particularly via UCITS and global mandates.
• Ausbil Investment Management: Active Australian and global equities boutique (owned by New York Life Investment Management); directly comparable as a boutique active manager serving institutional and retail investors in the same mandates as Alphinity.
• Platypus Asset Management: Sydney-based boutique active Australian equities manager with concentrated value-tilted strategies; directly comparable in scale, philosophy, and target wholesale/institutional client base.
• Bennelong Funds Management: Boutique Australian and global equities manager (Bennelong Australian Equities, Bennelong Concentrated Australian Equities); directly comparable boutique peer with similar concentrated high-conviction style.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCXC1g3wAVi-ONZaL_5eumzg
• LinkedInlinkedin.com/company/alphinity-investment-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 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 Alphinity