Our approach

Forager’s investment strategy is to find businesses that we believe are undervalued. We look for unloved and often under-researched businesses, particularly within the small-cap end of the market.

Our investment mandate is broad and allows us to scour all parts of the markets to find undiscovered gems and alongside of more well-known companies that might be out of favour or misunderstood.

Get in touch

Phone: +612 8320 0555
Email: [email protected]

Ian Lyu

Ian Lyu
Investor Relations

Our funds

Fund Overview

  • Concentrated portfolio of ASX-listed companies, typically in smaller companies
  • Nimble and deliberately capacity-constrained to access smaller companies
  • Focused on capital growth, with semi-annual distributions1
  • On the ASX as a Listed Investment Trust (LIT) under the ticker FOR, allowing flexibility in times of market distress

 

Application process for new investors

To buy units, you can simply purchase these through a broker the same way you would purchase any direct shares. The ticker for this fund is “FOR”.

Access

Performance (net of fees) as at 31 August 2022
1 year
3 year
5 year
-23.62%
6.00% p.a
1.19% p.a

1.1%* Management & expense recovery fee (p.a)

10%*Performance fee (on returns over 8% p.a)

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ASX (FOR) Investor Center

View historical unit prices

*Please refer to the Product Disclosure Statement for a detailed break down of fees and costs.

1The Responsible entity reserves the discretion to amend the trust’s distribution policy.

Fund Overview

  • A combination smaller less known company opportunities and large liquid, resilient businesses
  • A broad sector and market cap mandate that allows us to scour the market for the best opportunities
  • A concentrated portfolio of our 20-40 best ideas
  • Investment team with deep pockets of expertise particularly in Europe, the UK, and the United States.

 

Application process for new investors

You can apply online, or by downloading the form and sending to Fundhost, the administrator of this fund. The Fund processes applications and redemptions on a weekly basis.

The minimum investment is a $20,000 lump sum or $200 per month. You do not need a lump sum to start a monthly investment plan.

Available on

Performance (net of fees) as at 31 August 2022
1 year
3 year
5 year
-31.89%
10.56% p.a
7.15% p.a

1.23%* Management & expense recovery fee (p.a)

12.53%*Performance fee (on returns over p.a)

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View historical unit prices

Inception date 8 February 2013
*As at 30 September 2022. Please refer to the Product Disclosure Statement for a detailed break down of fees and costs.

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International Shares Fund

Fund Research

Our Forager International Shares Fund is covered by Lonsec research. Access the research to understand if your clients goals aligns with our International Share Fund investment approach.

LONSEC RESEARCH

Investment team

Steve Johnson

Chief Investment Officer

Steve Johnson is Forager’s Chief Investment Officer and one of the founders of Forager Funds. He has a Bachelor of Commerce (Econometrics and Finance) from the University of New South Wales. He enjoys marathon running in his spare time and lives with his wife in Sydney, Australia. Steve regularly appears on Ausbiz, the ABC, CNBC and within Australian newspapers such as Australian Financial Review, The Australian and Livewire. You can also interact with Steve on Twitter @ForagerSteve.

Steve Johnson

Chief Investment Officer

Steve Johnson is Forager’s Chief Investment Officer and one of the founders of Forager Funds. He has a Bachelor of Commerce (Econometrics and Finance) from the University of New South Wales. He enjoys marathon running in his spare time and lives with his wife in Sydney, Australia. Steve regularly appears on Ausbiz, the ABC, CNBC and within Australian newspapers such as Australian Financial Review, The Australian and Livewire. You can also interact with Steve on Twitter @ForagerSteve.

Alex Shevelev

Senior Analyst

Alex Shevelev joined Forager in July 2017 and is the Senior Analyst of the Forager Australian Shares Fund, responsible for research and portfolio management. He is of the classic Forager mould, he loves the under-rated, the undiscovered and an outright bargain.

Before Forager Alex was employed by Glennon Capital, Eight Investment Partners Group and Cadence. In between he gained valuable experience starting his own funds management venture. 

He has a Bachelor of Commerce (Finance and Econometrics) from the University of Sydney and is both a CFA Charterholder and CAIA Charterholder

Alex Shevelev

Senior Analyst

Alex Shevelev joined Forager in July 2017 and is the Senior Analyst of the Forager Australian Shares Fund, responsible for research and portfolio management. He is of the classic Forager mould, he loves the under-rated, the undiscovered and an outright bargain.

Before Forager Alex was employed by Glennon Capital, Eight Investment Partners Group and Cadence. In between he gained valuable experience starting his own funds management venture. 

He has a Bachelor of Commerce (Finance and Econometrics) from the University of Sydney and is both a CFA Charterholder and CAIA Charterholder

Gaston Amoros

Senior Analyst

Gaston Amoros joined Forager in November 2020 and works on researching stocks for the fund. Prior to this, Gaston worked as senior investment analyst covering various sectors at Watermark Funds in Sydney, the Abu Dhabi Investment Authority in the UAE, and with Benros Capital in London. Before moving to public equity markets, Gaston started his career in the investment banking division of Morgan Stanley (Buenos Aires and London) and the private equity division of TPG Capital (London). He holds a Masters in Finance from UCEMA and BA in Economics from UCA in Buenos Aires.

Gaston Amoros

Senior Analyst

Gaston Amoros joined Forager in November 2020 and works on researching stocks for the fund. Prior to this, Gaston worked as senior investment analyst covering various sectors at Watermark Funds in Sydney, the Abu Dhabi Investment Authority in the UAE, and with Benros Capital in London. Before moving to public equity markets, Gaston started his career in the investment banking division of Morgan Stanley (Buenos Aires and London) and the private equity division of TPG Capital (London). He holds a Masters in Finance from UCEMA and BA in Economics from UCA in Buenos Aires.

Gareth Brown

Co-Portfolio Manager

Gareth Brown joined Intelligent Investor (the original parent company of Forager) in 2002 and spent the next 10 years as a senior member of the analyst team working closely with Steve Johnson. Gareth began research for Forager when the Forager International Shares Fund was launched in early 2013.

Prior to this, Gareth spent seven years at Commonwealth Bank, initially in risk management and then on the trading floor. Whilst working at CBA, he completed a Bachelor of Business degree, majoring in Finance, at University of Technology, Sydney.

Gareth’s healthy scepticism and willingness to ask the questions no one wants to ask make for lively team discussions. He is an avid traveller and is unmatched in his knowledge of geography (in our office at least), something put to good use as he scours the world looking for opportunities, particularly in Europe. Gareth lives with his wife, son and daughters in Sydney, Australia.

Gareth Brown

Co-Portfolio Manager

Gareth Brown joined Intelligent Investor (the original parent company of Forager) in 2002 and spent the next 10 years as a senior member of the analyst team working closely with Steve Johnson. Gareth began research for Forager when the Forager International Shares Fund was launched in early 2013.

Prior to this, Gareth spent seven years at Commonwealth Bank, initially in risk management and then on the trading floor. Whilst working at CBA, he completed a Bachelor of Business degree, majoring in Finance, at University of Technology, Sydney.

Gareth’s healthy scepticism and willingness to ask the questions no one wants to ask make for lively team discussions. He is an avid traveller and is unmatched in his knowledge of geography (in our office at least), something put to good use as he scours the world looking for opportunities, particularly in Europe. Gareth lives with his wife, son and daughters in Sydney, Australia.

Harvey Migotti

Co-Portfolio Manager

Harvey Migotti joined Forager in May 2019 and works on researching US stocks for the Forager International Shares Fund.

Prior to this, Harvey worked as an investment analyst and portfolio manager covering various sectors across Europe and the United States at Watermark Funds Management in Sydney and Balyasny Asset Management in London. He has also held equity analyst roles with Amiya Capital and Apax Partners and started his career at Morgan Stanley’s investment banking division in London. Harvey holds a Masters in Finance from Cambridge University Judge Business School.

Harvey Migotti

Co-Portfolio Manager

Harvey Migotti joined Forager in May 2019 and works on researching US stocks for the Forager International Shares Fund.

Prior to this, Harvey worked as an investment analyst and portfolio manager covering various sectors across Europe and the United States at Watermark Funds Management in Sydney and Balyasny Asset Management in London. He has also held equity analyst roles with Amiya Capital and Apax Partners and started his career at Morgan Stanley’s investment banking division in London. Harvey holds a Masters in Finance from Cambridge University Judge Business School.

Chloe Stokes

Senior Analyst

Chloe Stokes joined Forager in November 2017 and works as a senior analyst for the Forager International Shares Fund.

She was previously employed by both KPMG and Deloitte in corporate finance roles, working on M&A advisory and restructuring engagements. Chloe completed a Bachelor of Business (Finance and Accounting) at the University of Technology in Sydney, graduating with first class honours. She is a CFA Charterholder and has also passed the exams required to become a Chartered Accountant.

Chloe Stokes

Senior Analyst

Chloe Stokes joined Forager in November 2017 and works as a senior analyst for the Forager International Shares Fund.

She was previously employed by both KPMG and Deloitte in corporate finance roles, working on M&A advisory and restructuring engagements. Chloe completed a Bachelor of Business (Finance and Accounting) at the University of Technology in Sydney, graduating with first class honours. She is a CFA Charterholder and has also passed the exams required to become a Chartered Accountant.

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Setting up your portfolio for market "kryptonite"

CIO Interview

Steve Johnson talks to Livewire and explains his strategy for tackling inflation and rebalancing a portfolio. He speaks about the importance of keeping an open mind and not thinking too far ahead in markets.

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