Our History

Northward Capital commenced operations on 12th November 2007 having previously worked as the Australian Equities team at IAG Asset Management in Sydney. IAG Ltd is an ASX listed AA rated general insurer with FUM of over $10bn. The genesis of the Northward Australian Equity Fund dates back to late 2003 when a template for a new fund based on bottom up fundamental investing utilising sector portfolio specialists was drawn up. The idea was to create a new portfolio approach for the Australian market, which drew on successful models adopted internationally by other fund managers. These fund managers had also been staff owned and operated for many years.

The Fund's style was based on the premise that Equity Analysts are the best qualified to make capital allocation decisions amongst the companies and sectors they know and follow closely. This gives them the independence to identify their most undervalued companies, buy them and set the investment size by constructing their own individual sector portfolios as part of the overall Fund. It also empowered our Analysts by giving them full accountability for active decision making and portfolio outcomes.

The result was the launch of the new Fund on 26th May 2004 known as the ‘IAGAM Research Fund'. The IAGAM Research Fund is a composition of mandates managed utlising this unique sector portfolio manager approach.

In January 2007 National Australia Bank commenced discussions with IAG Asset Management and the Northward Capital's founders - Darren Thompson and Simon Rutherfurd - with regard to establishing Northward Capital as a boutique manager with nabInvest, a division of National Australia Bank, becoming an investor in the boutique.  

On 12^th November 2007 Northward Capital entered its next phase as an independent boutique manager with significant staff ownership and a strong wealth management partner in nabInvest.

With the launch of Northward Capital the former 'IAGAM Research Fund' is now known as the 'Northward Capital Australian Equity Fund'.