Airlie Funds Management
Airlie Funds Management is a Sydney-based active Australian equities fund manager, wholly-owned by Magellan Investment Partners, managing approximately A$8.8bn for primarily institutional clients via two concentrated funds: the ASX-listed Airlie Australian Share Fund (AASF) and the Airlie Small Companies Fund.
- Company typePrivate
- Founded2012
- HeadquartersSydney, Australia
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Airlie Funds Management does
Airlie Funds Management is an active Australian equities fund manager founded in 2012 and headquartered in Sydney, operating as a wholly-owned subsidiary of Magellan Investment Partners since December 2019. The firm is led by an investment team headed by Matt Williams (Head of Australian Equities, formerly Head of Equities at Perpetual Investments) and Emma Fisher (Deputy Head), supported by Deputy Portfolio Manager Joe Wright and Portfolio Manager Will Granger. As of 30 June 2026, Airlie manages approximately A$8.8bn in assets, primarily for institutional clients, with a stated philosophy of concentrated, research-driven portfolios of quality Australian companies.
Airlie's product set comprises two open-ended funds: the Airlie Australian Share Fund (ASX: AASF), a concentrated Active ETF holding 15-35 Australian listed companies with a 0.78% per annum management fee and semi-annual distributions; and the Airlie Small Companies Fund, a 20-40 holdings portfolio of Australian small caps outside the S&P/ASX 100, with a 0.98% management fee plus a 20% performance fee versus the S&P/ASX Small Ordinaries Accumulation Index. The firm terminated its wholesale-only Airlie Concentrated Share Fund effective 24 June 2025. The underlying investment process is a qualitative four-factor framework (financial strength, business quality, management quality, valuation) supplemented by explicit ESG integration, with preference for founder-led businesses and concentration in 'best ideas' rather than benchmark-hugging positions.
The business model is classic active asset management: recurring management fees on AUM, supplemented by performance fees on the Small Companies Fund, distributed through Magellan-supported channels spanning the ASX (for AASF), direct fund applications processed by Apex Group, and a financial adviser/stockbroker network with regional key account managers across Australia and New Zealand. Revenue is not publicly disclosed; the parent Magellan Asset Management Limited serves as responsible entity, investment manager and issuer. The firm holds current positive analyst ratings from Zenith (Recommended), Morningstar Australasia (Silver), Lonsec and Genium ESG (Aware), supporting institutional and adviser credibility.
Airlie Funds Management firmographics
Firmographics- Name
- Airlie Funds Management
- Legal name
- Magellan Asset Management Limited
- Website
- https://airliefundsmanagement.com.au
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Airlie Funds Management is a Sydney-based active Australian equities fund manager, wholly-owned by Magellan Investment Partners, managing approximately A$8.8bn for primarily institutional clients via two concentrated funds: the ASX-listed Airlie Australian Share Fund (AASF) and the Airlie Small Companies Fund.
- Ownership category
- akta.pro rank
Airlie Funds Management industry classification
Industry- Product category
- Active Equity Fund Management
- NAICS
- Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Large-Cap Equity (Active) (FSAAAIAA)
- akta.pro secondary industries
- Small-Cap Equity (Active) (FSAAAIAC), Style Equity — Value (Active) (FSAAAIAH)
Keywords
Where Airlie Funds Management is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Airlie Funds Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Management Fees - Airlie Australian Share Fund: Management fee of 0.78% per annum on assets under management for the Australian Share Fund
- Management Fees - Airlie Small Companies Fund: Management fee of 0.98% per annum on assets under management for the Small Companies Fund
- Performance Fees - Small Companies Fund: Performance fee of 20% of excess return over the S&P/ASX Small Ordinaries Accumulation Index over each Calculation Period, estimated daily and accrued in unit price
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Airlie Australian Share Fund - Active ETF (ASX: AASF) |
| Subscription | Annual | Airlie Small Companies Fund |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
Airlie Funds Management product offering
Product offeringCore offering
Airlie Funds Management is an active Australian equities fund manager that constructs concentrated portfolios of 15-35 quality Australian listed companies using a proprietary four-factor investment process (financial strength, business quality, management quality, and valuation). It operates two main retail-accessible funds: the Airlie Australian Share Fund (ASX: AASF) and the Airlie Small Companies Fund, distributed via the ASX, direct application, and through financial advisers and stockbrokers.
Product overview
Airlie Funds Management operates as an active Australian equities manager offering two open-ended retail funds: the Airlie Australian Share Fund (ASX: AASF), a concentrated portfolio of 15-35 Australian blue-chip companies listed on the ASX, and the Airlie Small Companies Fund, targeting 20-40 quality small-cap Australian companies outside the S&P/ASX 100. A third fund, the Airlie Concentrated Share Fund, was a wholesale-only fund that has been terminated. Both active funds are managed by experienced investment teams using a four-factor investment process focusing on financial strength, business quality, quality of management, and valuation.
Differentiator
Problem solved
Functional benefit
Products and services
- Airlie Australian Share Fund - Active ETF (ASX: AASF) An actively managed concentrated portfolio of typically 15-35 quality Australian listed companies, seeking to invest in well-run, quality businesses with strong financial positions where current valuations do not fully capture this quality. The fund trades on the ASX under ticker AASF as an Active ETF and is available to retail and advised investors via direct application, advisers, and stockbrokers.
- Airlie Small Companies Fund An actively managed Australian equities fund targeting high-quality Australian listed small companies not in the S&P/ASX 100, typically holding 20-40 investments. The fund seeks to provide long-term capital growth and income for investors with a minimum 5-year timeframe and high to very high risk tolerance.
- Airlie Concentrated Share Fund (Archived)
Quantifiable outcome
- Airlie Australian Share Fund returned 9.44% per annum since inception (1 June 2018) vs benchmark 8.79%, outperforming by 0.65% annually as of 30 June 2026
- +1 more outcomes
Companies that use Airlie Funds Management
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles2 records
Airlie Funds Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature1 record
Airlie Funds Management partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Magellan Investment PartnerscoreAirlie is a wholly-owned subsidiary of Magellan Investment Partners. Magellan provides operational infrastructure, distribution capabilities, and retail fund expertise while Airlie's investment team manages the portfolio. The partnership enables retail market access to Airlie's institutional-quality Australian equities investment expertise. Magellan Asset Management Limited acts as responsible entity, investment manager and issuer for the funds.
- Apex Group (formerly Mainstream Fund Services)coreApex Group provides unit registry services for Airlie funds including processing applications, redemptions, distributions and maintenance of unitholder records. Investors access online portal for statements, transaction history and account management.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Airlie Funds Management competitors and assessment
Company assessmentEmerging players
- BetaShares Capital: Largest Australian ETF issuer, increasingly active in actively managed ETFs. Comparable because both compete in the ASX-listed active ETF wrapper and target Australian-equities-focused self-directed investors.
- Australian Ethical Investment: Australian-domiciled active equities manager with an explicit ESG overlay. Comparable because both integrate ESG into an active Australian equities process and target the advised retail and institutional channel.
Direct peers
- Perpetual Limited: One of Australia's largest active fund managers with a deep Australian equities franchise. Comparable because both firms run concentrated Australian equity strategies distributed to institutional and retail clients; Matt Williams previously headed Perpetual's equities team.
- Schroder Investment Management Australia: Active global and Australian equities manager. Comparable because both offer Australian equities strategies distributed to advisers and institutions, and Joe Wright was previously on Schroders' Australian equities team.
- Platinum Asset Management: Sydney-based active equities manager with concentrated, fundamentals-driven portfolios. Comparable because both employ high-conviction active stock selection, are Australia-domiciled, and serve institutional/retail via similar channels.
- abrdn (Australia): Global active asset manager with Australian equities and multi-asset offerings. Comparable because both compete in active Australian equities for institutional and advised retail clients using fundamentals-driven stock selection.
- Fidelity International Australia: Active equities manager with Australian and global strategies. Comparable because both target quality businesses with concentrated portfolios, share similar institutional/wholesale distribution, and Emma Fisher was previously a Fidelity analyst.
Broad incumbents
- Magellan Asset Management: Direct parent entity and broader Australian/global active equities manager. Comparable because Magellan operates the same funds at the responsible entity level and shares operational infrastructure, distribution channels and brand.
- Vanguard Australia: Largest passive fund manager in Australia with broad equity and ETF offerings. Comparable because Vanguard is the primary substitute for active Australian equities mandates and competes directly for the same investor dollar in adviser model portfolios.
- BlackRock Australia (iShares): Global asset manager with significant Australian equities ETF and institutional offerings. Comparable because BlackRock is the dominant passive/active incumbent competing for institutional Australian equity mandates and adviser allocations.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Airlie Funds Management social profiles
Digital presenceAirlie Funds Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Airlie Funds Management leadership team
Management profileNumber of profiles
Profiles9 records
Airlie Funds Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Airlie Funds Management M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Airlie Funds Management
What does Airlie Funds Management do?
Airlie Funds Management is an active Australian equities fund manager that constructs concentrated portfolios of 15-35 quality Australian listed companies using a proprietary four-factor investment process (financial strength, business quality, management quality, and valuation). It operates two main retail-accessible funds: the Airlie Australian Share Fund (ASX: AASF) and the Airlie Small Companies Fund, distributed via the ASX, direct application, and through financial advisers and stockbrokers.
Is Airlie Funds Management a public or private company?
Airlie Funds Management is a private company. It is classified as corporate owned and is currently operating.
When was Airlie Funds Management founded?
Airlie Funds Management was founded in 2012. It employs 11 to 50 people.
Where is Airlie Funds Management based?
Airlie Funds Management is headquartered in Sydney, Australia, in the Oceania region.
How does Airlie Funds Management make money?
Three revenue lines are on record. Management Fees - Airlie Australian Share Fund is the primary driver. The others are management Fees - Airlie Small Companies Fund and performance Fees - Small Companies Fund.
Who are Airlie Funds Management's main competitors?
Emerging players on record are BetaShares Capital and Australian Ethical Investment. Direct peers are Perpetual Limited, Schroder Investment Management Australia, Platinum Asset Management, abrdn (Australia) and Fidelity International Australia. Broad incumbents are Magellan Asset Management, Vanguard Australia and BlackRock Australia (iShares).
Does Airlie Funds Management have an API?
No public API is recorded for Airlie Funds Management.
What industry is Airlie Funds Management in?
Airlie Funds Management's product category is Active Equity Fund Management. Its primary akta.pro industry code is FSAAAIAA, Large-Cap Equity (Active), with a secondary code of FSAAAIAC, Small-Cap Equity (Active). Its NAICS code is 52394 and its SIC code is 6282.