Ophir High Conviction Fund Announces Weekly NAV of $2.6524 per Unit as of 24 July 2026

Ophir High Conviction Fund’s Investment Approach and Market Focus

Managed by Ophir Asset Management, the Ophir High Conviction Fund is a long only investment vehicle specializing in small and mid-cap equities. It targets companies listed outside the S&P/ASX 50 index, giving investors focused exposure to smaller listed businesses beyond Australia’s largest market caps. This strategy is designed to identify high-quality mid-market and smaller-cap companies where the manager believes active stock selection and a concentrated portfolio can generate superior returns.

The fund generally holds between 20 and 40 companies, balancing meaningful exposure with diversification. This concentrated portfolio allows detailed fundamental analysis and significant positions in high-conviction ideas expected to create value. The long only structure excludes short selling, focusing solely on businesses anticipated to deliver positive returns over time.

Weekly NAV Reporting and Valuation Methodology

On 24 July 2026, the Ophir High Conviction Fund released its unaudited NAV per unit of $2.6524. The NAV and Net Tangible Assets (NTA) are reported at the same value, representing both per-unit net asset value and net tangible asset backing. Valuation data is sourced from Citigroup and denominated in Australian dollars, providing investors with an up-to-date snapshot of the fund’s unit value.

These weekly NAV estimates are part of Ophir’s regular reporting schedule, designed to maintain transparency and enable investors to track fund value frequently. These unaudited figures supplement formal financial reports and audits, helping investors monitor performance and valuation trends throughout the reporting periods. Regular NAV disclosures align with industry standards for managed funds and support informed investor decision-making.

The Trust Company and Perpetual Group’s Role as Responsible Entity

The Trust Company (RE Services) Limited, affiliated with the Perpetual group, serves as the Responsible Entity for the Ophir High Conviction Fund. It oversees trustee and compliance responsibilities, ensuring the fund operates according to its investment mandate, trust deed, and relevant financial regulations. The Perpetual group offers extensive financial services including fund management, advisory, and trustee operations, providing robust infrastructure for the fund.

As Responsible Entity, The Trust Company manages administrative, compliance, and fiduciary duties. Perpetual is a leading Australian financial services provider with expertise in trustee and fund administration across diverse asset classes. Entrusting these duties to a Perpetual group entity assures investors of experienced oversight within Australia’s financial system.

Concentrated Portfolio and Small-Cap Market Exposure

The Ophir High Conviction Fund employs a concentrated portfolio strategy, typically holding 20 to 40 companies. This approach contrasts with broadly diversified funds and reflects the manager’s belief that focused, high-conviction investments supported by rigorous research can yield superior risk-adjusted returns.

By concentrating on small and mid-cap companies outside the S&P/ASX 50, the fund targets a less liquid and less widely covered segment of the market. This creates opportunities for active managers conducting deep fundamental research to uncover undervalued businesses with higher growth potential, albeit with increased volatility and liquidity considerations compared to large-cap stocks.

NAV Valuation Transparency and Investor Communication

Ophir’s weekly NAV disclosures demonstrate its commitment to transparent communication with investors. The NAV of $2.6524 per unit as of 24 July 2026 offers a precise valuation metric for monitoring investment value or evaluating transaction pricing. The valuation figures are denominated in Australian dollars and sourced from Citigroup, ensuring clarity and reliability.

The announcement includes a standard disclaimer emphasizing that past performance is not indicative of future results, complying with Australian financial regulations. This reinforces that investment decisions should not rely solely on historical data. Regular NAV updates combined with performance disclaimers support informed investor decisions and realistic expectations.

Investor Access and Communication Channels

Ophir Asset Management provides multiple avenues for investors to access information on the Ophir High Conviction Fund. Brendan Carrig, Chief Executive of Ophir Asset Management, is listed as the primary contact for investment inquiries. Investors are encouraged to subscribe to Ophir’s Global Insights service for market updates and fund stock information.

Additional resources include the fund’s website at www.ophiram.com.au and the Perpetual group’s site at www.perpetual.com.au, offering comprehensive details on fund operations, strategy, and the Responsible Entity’s broader services. These channels ensure transparency and accessibility for current and prospective investors.

Regulatory Compliance and Licensing

Ophir Asset Management operates under Australian Financial Services Licence (AFSL) number 420082, authorizing it to provide investment management services. The Trust Company (RE Services) Limited holds AFSL 235150 and is registered with the Australian Business Register under number 45 003 278 831, confirming its regulatory status. These licenses affirm compliance with Australian Securities and Investments Commission (ASIC) standards for financial services and fund administration.

Maintaining these licenses requires adherence to ongoing regulatory obligations including financial crime prevention, responsible lending, conflict management, and consumer protection. Publishing license details in communications is standard practice, enabling investors to verify regulatory credentials via ASIC and public registers.

Fund Performance Monitoring and NAV Tracking

The weekly NAV estimate enables investors to regularly assess fund value by multiplying their unit holdings by the current NAV per unit. This facilitates timely performance tracking without waiting for quarterly or annual reports. Providing unaudited weekly NAV figures exemplifies best practice in managed fund disclosure, fostering investor confidence through transparency.

The NAV of $2.6524 per unit as of 24 July 2026 offers a concrete valuation point for evaluating fund positioning and performance trends relative to prior periods or benchmarks. This data supports investor decisions regarding additional investments or portfolio adjustments, reflecting Ophir’s commitment to clear and frequent communication on fund valuation and performance.

Investment Philosophy and High-Conviction Strategy

The Ophir High Conviction Fund name reflects its investment philosophy of focusing on positions where the manager holds the strongest conviction in business quality and return potential. High-conviction investing involves significant allocations to a limited number of thoroughly researched opportunities, differing from broader, more evenly weighted portfolios.

With 20 to 40 holdings, the fund’s concentrated structure allows position sizing aligned with conviction levels, enabling larger stakes in the most promising ideas while managing risk through diversification. This approach demands disciplined analysis and monitoring, as individual holdings significantly impact overall returns. The small and mid-cap focus complements this strategy by targeting market segments where active research can yield competitive advantages.