Chester Asset Management

What Chester Asset Management does

Chester Asset Management is an Australian boutique investment management firm headquartered in Melbourne, established in 2017 to package a high-conviction Australian equities strategy that Managing Director and Portfolio Manager Rob Tucker has run since October 2013. The firm operates a single core product — the Chester High Conviction Fund, an actively managed Unit Trust that invests in a concentrated portfolio of 25–40 stocks drawn from the S&P/ASX 300 Accumulation Index universe, targeting a 5% p.a. return above benchmark before fees and reporting 5.8% p.a. outperformance after fees since 2013 with active share consistently above 80%. Its investment process combines fundamental stock selection — focused on unloved, underappreciated or undiscovered mid-cap names with predictable cash flow or margin-of-safety valuation — with macro overlay, supported by over 500 company meetings per year and a 80-stock watch list classified as Predictable, Cyclical or Defensive.

The firm monetises the fund through a 0.95% p.a. management fee (inclusive of GST net of RITC) and a 15% performance fee on excess returns over the benchmark, with a $20,000 minimum initial investment and a 3-year minimum holding horizon targeting wholesale and sophisticated investors. Distribution is multi-channel: direct online and paper applications, availability across Australian investment platforms, and a regional field sales team covering VIC/WA/TAS, NSW/ACT and QLD from Sydney and Brisbane offices, with administration and registry handled by Copia Investment Partners as Responsible Entity. Fund scale stands at approximately $1.5B AUD in funds under management as of April 2025, supported by external validation including Lonsec Highly Recommended, Zenith Recommended and Genium Recommended ratings and consecutive Money magazine and Zenith Fund Award wins.

Name

Chester Asset Management

Legal name

Chester Asset Management

Website

https://chesteram.com.au

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Chester Asset Management is a Melbourne-based boutique running the Chester High Conviction Fund, a concentrated 25–40 stock Australian equities portfolio targeting wholesale and sophisticated investors, monetised via 0.95% management and 15% performance fees on roughly $1.5B AUM.

Ownership category

akta.pro rank

Product category

Active Equity Fund Management

NAICS

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

SIC

Investment Advice (6282)

akta.pro primary industry

Large-Cap Equity (Active) (FSAAAIAA)

akta.pro secondary industry

Mid-Cap Equity (Active) (FSAAAIAB)

Keywords

• Active equity management
• Australian equities fund
• High conviction investing
• Wealth management services
• Concentrated portfolio management

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Management Fees: Annual management fee of 0.95% p.a. (including GST net of RITC) charged on funds under management.
2. Performance Fees: 15% performance fee (including GST and net of reduced input tax credits) on any excess performance above the benchmark S&P/ASX 300 Accumulation Index after deducting management fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Chester Asset Management operates the Chester High Conviction Fund, an actively managed Australian equities fund that invests in 25-40 high-conviction stock ideas selected from the S&P/ASX 300 Accumulation Index universe. The fund targets 5% p.a. outperformance above benchmark over rolling 3-year periods through fundamental stock selection combined with macroeconomic insights. The firm partners with Copia Investment Partners as Responsible Entity for administration and client servicing while focusing solely on investment management.

Product overview

Chester Asset Management is an Australian investment management firm offering a single core product: the Chester High Conviction Fund. The firm operates as a specialized equities manager with a high-conviction, concentrated portfolio approach investing in Australian large-cap stocks. The fund is the sole product offering, distributed through multiple investment platforms and available directly. Chester partners with Copia Investment Partners for administration and client servicing, while Chester focuses solely on investment management. The investment strategy has been managed by the same team since 2013 with a consistent philosophy of finding undervalued opportunities and maintaining portfolio concentration of 25-40 stocks.

Differentiator

Problem solved

Functional benefit

Brands

• Chester High Conviction Fund: The flagship fund of Chester Asset Management, a concentrated portfolio of 25-40 Australian equities designed to protect and grow generational wealth. The fund's investible universe is the S&P/ASX 300 Accumulation Index.

Products and services

• Chester High Conviction Fund

Quantifiable outcome

• 5.8% p.a. outperformance after fees since 2013
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Third Link Growth FundcoreStrategic or Co-development Partner · 14 May 2025The Chester High Conviction Fund was selected as one of three new additions to the Third Link Growth Fund alongside Australian Eagle and Firetrail Investments. Third Link is a unique Australian fund of funds that donates its management fee, net of expenses, to charity. Since inception, the fund has given more than $23 million to not-for-profit organisations focused on youth, education and employment. Chester rebates their management and performance fees in full to support Third Link's charitable mission.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Antipodes Partners: Active, high-conviction equities manager (global and Australia-focused) that runs concentrated portfolios benchmarked to major indices. Highly comparable in stock-selection style and target wholesale/institutional Australian client base.
• Magellan Asset Management: Australian active equities manager running concentrated, high-conviction strategies against major benchmarks, including a flagship high-conviction global fund. Directly comparable to Chester on philosophy, concentration, and benchmark-relative active-share approach.
• Plato Investment Management: Boutique active Australian equities manager known for concentrated, high-active-share long-only mandates with a focus on undervalued names. Closely comparable in investment philosophy and target investor profile.
• Firetrail Investments: Active Australian equities boutique added to the Third Link Growth Fund alongside Chester. Comparable in being a concentrated, high-conviction Australian equities manager distributed to wholesale/institutional investors.
• Investors Mutual: Australian active equities boutique with a value/contrarian, concentrated-investment philosophy targeting long-term capital growth. Closely aligned to Chester's high-conviction, unloved-stocks approach and Australian wholesale investor focus.
• Bennelong Australian Equity Partners: Australian mid/large-cap active equities specialist offering concentrated, high-conviction mandates. Comparable in benchmark (ASX), concentration range and boutique distribution model.
• Australian Eagle: Boutique Australian active equities manager explicitly named alongside Chester as a manager addition to the Third Link Growth Fund. Highly comparable in target investor profile, fund-of-funds selection and Australian equities focus.

Broad incumbents

• Pendal Group: Larger Australian asset manager offering a range of active Australian equities funds (including concentrated mandates) to wholesale and institutional clients. Comparable product overlap but with broader product suite and institutional scale.
• Perpetual Investment Management: Long-established Australian active equities manager offering core and value-tilted Australian share strategies via wholesale and platform channels. Comparable in asset class and distribution, with broader, more institutional footprint.
• Lazard Asset Management (Australian Equities): Global incumbent with a dedicated active Australian equities capability offering concentrated and core mandates to institutional and wholesale clients. Comparable in product overlap but operates at much larger scale with a global brand.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutu.be/yi-_glpCPxo
• LinkedInlinkedin.com/company/chester-asset-management

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Chester Asset Management