Ophir Asset Management

Investment Management

Sydney, New South Wales 15,639 followers

Ophir Asset Management is a small and mid cap Global and Australian equities fund manager.

About us

Ophir is a $billion plus small and mid cap global and Australian equities fund manager. Investors include wealth advisers, pension funds, family offices and private individuals. The flagship Ophir Opportunities Fund has generated 24.5% p.a net after fees over the past 13 years from inception in August 2012 to October 2025. The founders and senior portfolio managers Andrew Mitchell and Steven Ng have the vast majority of their savings invested in the Ophir funds. Every month we publish the Ophir Monthly Letter to Investors which details our views on the market and stocks we are buying and selling. To receive the newsletter direct to your inbox please visit our website (provided below):👇 If you would like to get in touch and ask any question please email brendan.carrig@ophiram.com and he will be more than happy to help out.

Website
https://www.ophiram.com

External link for Ophir Asset Management

Industry
Investment Management
Company size
11-50 employees
Headquarters
Sydney, New South Wales
Type
Privately Held
Founded
2012

Locations

Employees at Ophir Asset Management

Updates

  • Ophir Founder, Andrew Mitchell, recently had the honour of kicking off Equity Mates Media's ‘Best of the Best’ podcast series, taking the opportunity to talk through what gives us an edge, the small cap landscape and some personal advice that doesn’t just extend to the investing world. Many of you know we’re not just sitting behind our desks. You don’t find the next A2 Milk or Afterpay waiting for the information to come to you. You go digging. Think about those Ivy League aces who could crunch numbers faster than you can say, “DCF!”. How do you compete with that?! But that’s just one piece of the puzzle. You get on that first flight. You hit the road early. And you talk. Talk to the people making the decisions. Talk to their biggest threats. You talk to their clients and you talk to their suppliers. BUT you need to synthesise the information. This is the part where creativity is rewarded. Andrew delves into some of the more creative ways we have found an edge in our companies and SPOILER! It didn’t just involve trudging through cashflow statements. Andrew’s advice to his 18 year-old self summarises this edge well, "Putting yourself out there, when odds are you will fail, is when great things happen." If we were to survey the most common trait in our investment team, it wouldn't be wizard-like intelligence. It’s being comfortable with the uncomfortable. Because that’s where the real magic happens. If you would like to hear the podcast, the link is in the comments (below). Feel free to also click through to Ophir Asset Management to follow Ophir’s LinkedIn corporate page and get up to date views on shares and markets.

  • Drum roll please - your top 10 Aussie stocks of the year and the last decade are? You didn’t think we’d make it that easy did you! While rankings 4-10 of the last year and decade can be found below, the podium positions have been left blank except for their returns and market cap. Before we get to them shout out to Codan (radios and metal detectors) and Silex (uranium and silicon enrichment) who have made both lists for short term and long term performance. Here are your clues for this year’s gold, silver and bronze medallists (so far!) in no particular order: two of them serve overlapping markets and amazingly also have two of the biggest drawdowns this year, and one of them has a ticker code that relates to human evolution. Here are your clues for this decades top 3: one of them has a higher market cap per employee than Nvidia, one is named after its three Founders and one has a three letter acronym in its name that relates to its key product. Hopefully they are ChatGPT bulletproof clues! Who do you think the year and the decade's top three winners are? If you would like to learn more about Ophir, including the stocks we are buying and selling and our view on markets, feel free to follow our Ophir Asset Management corporate page or check-out our website 👆

  • "Say hello to my little friend”. The famous line by Al Pacino in Scarface seems just as appropriate for the rapid catch up in U.S. small cap revenue growth as shown below. After almost 5 years in the doghouse as rates rose post COVID, revenue expectations for small caps have recently received a shot in the arm as the Fed recommenced its rate cutting cycle in September. With the Fed all but certain to lower rates again this week to 3.75%, and economic growth looking set to pick up into 2026, helping earnings breadth, we are not sure what stops this trend. We see 3 key tailwinds for U.S. small caps into 2026: 1. Earnings: forecasted by consensus next year (at +18% growth) to be faster than large (+13%) and mid caps (+16%) for the first time in years; 2. More Fed cuts: with greater floating rate and short-term debt this helps small caps more; 3. Positioning and valuations: All cap managers are very underweight small caps and the small cap market P/E is still the cheapest to large caps in about 25 years. Is there something that could derail this thesis? Or do you see 2026 as the return of small caps outperformance? For more insights, including the stocks we are buying and selling and our view on markets, feel free to follow our Ophir Asset Management corporate page or check-out our website 👆

  • Big smiles all round Team Ophir as we took out the best Australian Small Cap fund at the 2025 Australian Fund Manager awards recently. The award followed our Aussie Opportunities Fund returning +40% in financial year 2025 and now around 24.5% p.a. after fees since starting in 2012. Over both the short and long term horizons the Fund was the best performing Aussie small Cap fund (out of around 125 funds, according to Morningstar). Asked about the secret to the Fund's performance, our co-founder Andrew Mitchell said ‘we all really love what we do, when you wake up and look forward to getting to work to find the next small cap Star stock it makes it easy to stay focussed and put in the hours required.’ If you would like to learn more about Ophir, including the stocks we are buying and selling and our view on markets, feel free to follow our Ophir Asset Management corporate page or check-out our website 👆 And remember, past performance is not a reliable indicator for future performance.

  • Check out this map… and no it’s not a simulation of attacks on the US in World War III! The U.S. can’t build data centres fast enough. AI isn’t just changing software – it’s rewiring the entire U.S. energy system. According to S&P Global, U.S. data-centre power demand is about to go vertical with demand expected to rise to 75.8 GW in 2026 and 134.4 GW in 2030. That 2026 number alone is a 50% jump... in just two years. To put that into perspective: The entire U.S. power grid is only a little over 1,200 GW today And even with major investment, it’s only expected to reach ~1,400 GW by 2030 Which means one thing… AI data centres are on track to consume nearly 10% of all U.S. electricity by the end of the decade. But here’s the problem… Grid capacity isn’t rising fast enough. So hyperscalers will increasingly be pushed toward on-site power solutions – if they can find them! The AI boom isn’t just a tech story anymore. It’s an energy story — and one of the biggest infrastructure challenges of the next decade. For more insights, including the stocks we are buying and selling and our view on markets, feel free to follow our Ophir Asset Management corporate page or check-out our website 👆

  • It’s easy to turn bearish if you read enough market headlines… But this chart is a great reminder of why most of that click-bait is worth ignoring 👇 Looking at the S&P 500’s return components since 2005, a few things stand out: ■ Markets typically deliver positive returns ■ Earnings growth and fundamentals are most frequently positive ■ Sentiment, reflected via P/E expansion or contraction, drives most of the volatility In other words, prices can swing all over the place based on emotion, headlines, and hype. But over time, fundamentals do the heavy lifting. As Ben Graham said: “In the short run, the market is a voting machine, but in the long run, it is a weighing machine.” And that’s why at Ophir, we focus on fundamentals… and try to tune out the noise. For more insights, including the stocks we are buying and selling and our view on markets, feel free to follow our Ophir Asset Management corporate page or check-out our website 👆

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