Board of Directors

John Steven


John is the head of the National M&A Business Unit of Minter Ellison. He practices in the corporate and capital markets area, particularly public and private mergers and acquisitions, capital raisings and government enterprises. He also has an extensive general corporate practice.  John is currently chairman of the Advisory Committee of a private investment fund of commercial and state government investors and is on the advisory Board or similar of various not for profit organisations. He was previously a Board Member of the Monash University Law Foundation. He holds a Bachelor of Laws (with Honours), a Bachelor of Economics and a Diploma of Commercial Law from Monash University.

Judith Smith

(Independent Non-Executive Director)

Judith was formerly the Head of Private Equity at IFM Investors and Chair of the IFM Risk Committee. Judith was also a member of the IFM Investments Committee, a role she has retained following her retirement from the firm. Prior to her role at IFM, Judith held various investment management roles including more than a decade at National Mutual Funds Management (NMFM). At NMFM, she managed Australian equity research and strategy, as well as Australian equity portfolios. Judith holds a Master of Applied Finance from the University of Melbourne and a Bachelor of Economics (with Honours) from Monash University. She is a Fellow of the Financial Services Institute of Australasia and Graduate member of the Australian Institute of Company Directors. Judith has been a director of the Australian Renewable Energy Authority Board since 2012.

David Trude

(Independent Non-Executive Director)

David is a senior corporate banking executive with 40 years’ experience in a variety of financial services roles in the banking and securities industries.  He is the Chairman of Baillieu Holst (formerly E.L.&C. Baillieu), a position he has held since 2010 and has been a member of its Board since 2007.  David was formerly Managing Director, Australian Chief Executive Officer/Country Manager of Credit Suisse.  He is Chairman of Waterford Retirement Village, Hansen Technologies Limited and East West Line Parks Limited and is a member of the board of Chi-X Australia Pty Ltd.  He is a former Panel Member of the ASX Disciplinary Tribunal and Director of the Stockbrokers Association of Australia.

Robert Brown


Robert Brown is an independent director of the Manager and is Chairman of its subsidiary Australian Microcap Investments Pty Ltd.  He is an emeritus professor of finance in the Department of Finance, University of Melbourne, where his research has focused on security market behaviour.  He holds a Bachelor of Economics (Honours) and Master of Economics from the University of Sydney, as well as a Graduate Diploma in Accounting from Victoria College and is a fellow of CPA Australia, a senior fellow of the Australasian Institute of Financial Services and a graduate of the Australian Institute of Company Directors.

Barry Fairley


Barry Fairley was the Managing Director of the Manager. In this capacity he was responsible for the design of the company’s investment philosophy strategy and process. Barry founded the Manager in 1998 and has more than 40 years of investment experience. Prior to forming the Manager, Barry was the Managing Director at Triako Resources Limited. During his 15 years at Triako Resources, Barry was responsible for the company’s strategic direction and management, including the acquisition and financing of major projects. Barry also served as a Partner/Director at McIntosh Securities Limited. Barry began his career at Colonial Mutual Life where he was a Financial Analyst. Barry holds a Diploma in Mining Engineering and is a Senior Associate of the Financial Services Institute of Australasia.

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