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Ophir High Conviction Fund (OPH)
Ophir High Conviction Fund (ASX: OPH) is an Australian-listed investment company (LIC) that provides investors with access to a high-conviction portfolio of Australian and New Zealand small and mid-cap equities. Managed by Ophir Asset Management, the fund seeks to generate long-term capital growth by investing in a concentrated selection of companies with strong growth prospects and competitive advantages.
Market Cap
A$614M
Shares on Issue
N/A
Price Chart
AI Analysis
Ophir High Conviction Fund maintains a concentrated portfolio of 20-40 ASX-listed small and mid-cap companies, aiming to outperform its benchmark (S&P/ASX Small Ordinaries Accumulation Index). The fund regularly publishes its Net Tangible Asset (NTA) per share, reflecting the underlying value of its investments, and has a track record of strong long-term performance, though subject to market volatility inherent in its target segment. Its investment strategy focuses on identifying high-growth businesses with robust fundamentals.
The growth outlook for OPH is intrinsically linked to the performance of its underlying portfolio companies and broader market conditions for Australian small and mid-cap equities. Upcoming catalysts include regular NTA announcements, which provide transparency on portfolio value, and the fund's ability to identify and capitalize on mispriced growth opportunities. Strategic direction remains focused on disciplined, high-conviction active management to deliver long-term outperformance, with potential for further capital appreciation driven by its investment managers' expertise and favourable market cycles for smaller companies.
Bull Case
- • Sustained outperformance of OPH's underlying small and mid-cap portfolio relative to its benchmark, driving strong growth in Net Tangible Asset (NTA) per share.
- • Increased investor appetite for actively managed exposure to the high-growth potential of Australian small and mid-cap companies, leading to a premium or reduced discount to NTA.
- • Continued strong investment management from Ophir Asset Management, consistently identifying undervalued growth stocks and navigating market conditions effectively.
Bear Case
- • Underperformance of the fund's underlying small and mid-cap portfolio due to poor stock selection or adverse market conditions, leading to a decline in NTA.
- • A general downturn in the broader Australian equity market, particularly impacting the more volatile small and mid-cap segment, leading to capital losses.
- • Persistent discount of OPH's share price to its Net Tangible Asset (NTA), reflecting reduced investor confidence or a preference for alternative investment vehicles.
Recent Announcements
Weekly NTA 13.02.2026
Appendix 4D and Half Year Accounts
🚨 Price SensitiveAppendix 4D and Half Year Accounts
FAQs
What does OPH do?
OPH is a listed investment company (LIC) that invests in a concentrated portfolio of 20-40 high-conviction Australian and New Zealand small and mid-cap companies. Its aim is to generate long-term capital growth by actively managing these investments.
Is OPH a good investment?
OPH offers potential for strong returns due to its focus on high-growth small/mid-cap companies and active management expertise. However, it carries higher risk due to the inherent volatility of smaller companies and market fluctuations, making performance dependent on both manager skill and broader economic conditions.
What drives OPH's share price?
OPH's share price is primarily driven by the performance of its underlying investment portfolio, as reflected in its Net Tangible Asset (NTA) per share. Investor sentiment towards small-cap equities and the prevailing discount or premium of its share price to the NTA are also significant factors.
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