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What the wealth managers are telling clients about private markets
24 Jun 2026
Data published by industry body the Australian Investment Council indicates $161 billion in Australian funds are invested in private assets, an investment category that includes private equity funds, private credit funds and infrastructure assets. Within these categories are subtypes such as private equity funds. Secondaries hold businesses bought from other private equity funds. Continuation vehicles buy assets, often...
Asteri Asset Management nets US$11.9bn as Australia’s HNWs look beyond Big Four
27 May 2026
Asteri Asset Management has been featured in Asian Private Banker, with the article exploring the continued growth of independent wealth management in Australia and the evolving needs of high-net-worth families. In the interview, Managing Partner Jonathan Harper discusses Asteri’s founding philosophy and the firm’s focus on delivering independent, tailored advice to high-net-worth individuals and for-purpose institutions....
How do people enter the advice profession down under?
31 Mar 2026
“Deregulation won’t unlock better advice on its own — not while conflicts remain embedded in the system. Trust isn’t built through disclosure, it’s built through alignment.” It can be difficult for young advisers to get experience in Australia, but the education pathways available to them are more advanced than in the UK, says Spencer Thornton....
IWD 2026 — The moment women decide which advisors stay
16 Mar 2026
Asteri Asset Management’s Harper said that mindset often shows up in how women approach investing and portfolio construction.“Women think very differently about investments, portfolios and the future,” he said. “Many of our female clients are far more strategic, disciplined and thoughtful about the portfolio composition they want. Many of our best impact investors are female clients...
The right way to give your kids money (and 2 very wrong ways)
22 Dec 2025
How the bank of mum and dad can help fund property dreams without compromising retirement security or risking family assets. It’s the question that 80 per cent of financial adviser Scott Quinlan’s older clients ask him at their first meeting. And if they don’t mention it, he does. “They ask, ‘How much can we give...
Don’t make this major property mistake when you retire
24 Feb 2026
Many Australians are sold on the idea of using an investment property to fund their retirement. Often the sums don’t add up. it’s difficult to overstate the national obsession with property. Australia has the second-highest median wealth per head of population in the world, but 53 per cent of that is tied up in real...
Financial advice sector won’t avoid scandals with Band-Aid solutions
26 Jan 2026
The structure and inner workings of the nation’s advice market lend themselves to yet another blow-up, leaving many investors at risk. And that means it’s only a matter of time before the industry again comes unstuck. Dodgy selling and marketing practices by intermediaries and conflicted pay models are thriving. That, coupled with the fact that...
ATO cracks down on wealthy philanthropy
15 Dec 2025
The Australian Taxation Office has warned wealthy families they cannot use their charitable foundations to provide a material “benefit” to their friends, family members or related businesses. Tax deductions will be cancelled if a private ancillary fund – a tax-effective vehicle for wealthy people to manage their philanthropy – does anything to erode the true...
Business Now | 4 December
05 Dec 2025
Why the RBA may stay on hold despite shifting rate expectations Amid renewed inflation pressure and changing market expectations, Asteri Asset Management’s Chief Economist, Annabel Lockyer, joined Ross Greenwood on Sky News Australia Business Now to discuss why the Reserve Bank of Australia may “sit on its hands” despite money markets now forecasting rate hikes from...
12 Asteri Advisers in Australia’s 2025 Top 150
20 Nov 2025
Barron’s, in partnership with The Australian’s business magazine The Deal, today released the 2025 list of Australia’s Top 150 Financial Advisers. Recognised globally as one of the most rigorous rankings in wealth management, the Barron’s methodology assesses advisers across three dimensions: the scale and sophistication of assets under advice, the strength and stability of the...
Wearing the Right Hat: How to Think Like Your Non-Profit
28 Jul 2026
by Damian Knowlton, Head of Philanthropy & Social Capital, Partner, Asteri Asset Management Introduction This paper is the second in a series dedicated to helping trustees, directors and investment committee members of Australian charitable, non-profit and philanthropic organisations (‘non-profits’) think more clearly about some of the common, yet less obvious risks they face as non-profit investors....
Set Up For Success: Is Your Investment Committee Really Working?
06 Jul 2026
by Damian Knowlton, Head of Philanthropy & Social Capital, Partner, Asteri Asset Management Introduction This paper is the first in a series dedicated to helping trustees, directors and investment committee members of Australian charitable, non-profit and philanthropic organisations (‘non-profits’) think more clearly about some of the common, yet less obvious risks they face as non-profit investors....
Rebuilding Financial Confidence After Separation
09 Apr 2026
by Evie Albanese, Senior Adviser Introduction Separation and divorce are periods of significant change. Alongside the emotional impact, these changes frequently require people to make complex financial decisions – often at a time when clarity feels...
Matters that Matter – Edition 2 – Government Engagement
08 Apr 2026
PREFACE ‘Matters that Matter’ captures sector insights from discussions with non-profit and philanthropic leaders attending and presenting at the many events facilitated by Asteri’s Philanthropy & Social Capital team. In government engagement, most non‑profits have a secret weapon they often don’t recognise: their CFO. While CEOs and external/government relations teams are often front of house,...
Squeezing the Golden Goose: Why Higher Distribution Rates Won’t Lift Giving
06 Mar 2026
by Damian Knowlton, Head of Philanthropy & Social Capital, Partner, Asteri Asset Management Introduction On 26 February 2026, the Albanese Government announced that the minimum annual distribution rate for both Private Ancillary Funds and Public Ancillary Funds, now collectively renamed ‘Giving Funds’, will rise to 6% of net assets per year. The current minimums are 5%...
When Women Exit: Navigating from Cashed-up to Confident Custodian
27 Oct 2025
by Vicki Bramwell, Senior Adviser & Partner, Siobhan Shanahan, Adviser “Over time, I’ve grown clearer about my purpose: to build a more inclusive world. A world that listens to women and girls, and values their contribution....
Matters that Matter
11 Sep 2025
Our latest paper from the Philanthropy & Social Capital team, ‘Matters that Matter’ captures valuable sector insights from discussions with non-profit and philanthropic leaders attending and presenting at the many events that the team hosted earlier this year. Themes covered include fundraising, attracting and retaining staff, non-profit financial sustainability and more. At this time when many...
Rethinking Your Portfolio: Wealth Through an Endowment Lens
29 May 2025
by Nelson Zhou, Chief Investment Officer, Asteri Asset Management The investment regime that dominated the past ten years – built on loose money, a zero interest rate environment, and disinflation that benefited risk assets – appears to...
Impact Investing without Limits: International Opportunities for Australian Investors
29 Mar 2025
by Nelson Zhou, Chief Investment Officer, Terusha Ramchund, Responsible Investment Specialist, and Hugh Barrington, Manager of Philanthropy & Social Capital The impact investing landscape is evolving rapidly, shaped by growing investor demand and the urgent need...
Private Debt Unlocked: Beyond the Basics
03 Mar 2025
by Eitan Nevo (CFA), Head of Core and Opportunistic Portfolios, Asteri Asset Management The spotlight on private debt has intensified, yet media coverage frequently reduces this intricate asset class to a one-dimensional narrative. While headlines may focus...
The Role of Personal Values in Shaping Investment Choices
15 Oct 2024
In an increasingly complex and dynamic investing environment, a deep understanding of personal values and mental models is essential for achieving both personal and professional success. Core values serve as fundamental principles that guide our decisions, actions, and interactions, while mental models are ingrained frameworks that shape how we perceive and interpret the world. By...
Small Versus Large Cap Stocks: Exploring the Size Premium
28 Jun 2024
The belief that small cap stocks should outperform their larger counterparts has long been held in the investment world since Rolf Banz first revealed the size premium in 1981. Historical data from 1962, as analysed by Fama and French in their 1992 paper, shows that the smallest 30% of US stocks have outperformed the largest...
Rising Tide: How Non-Profit Philanthropic Investors Approach Responsible Investing
30 Apr 2024
Over the past decade, purpose-driven investors have increasingly embraced the concept and practice of responsible investing. Today, many view investment capital through the prism of its real-world impact. Some go further and deploy capital with the deliberate intention of generating additional positive impact for their organisation, society and the environment. In late 2023, Asteri’s Philanthropy & Social...
Do Valuations Matter?
13 Mar 2024
In an investment landscape where traditional valuation metrics are constantly challenged, investors are increasingly asking: do valuations still matter in today’s market? The old principle of mean reversion appears to contradict the phenomenon that expensive assets can climb even higher and seemingly cheap investments can become value traps. The paper discusses the relationship between valuations...
The Principles Of Endowment Style Investing, Part II
29 Feb 2024
In this report we discuss the importance of defining an endowment’s purpose, building effective investment governance policies and prudently managing capital to help achieve the mission and objectives of non-profit organisations. This white paper builds on the principles discussed in Asteri’s first endowment investing paper and incorporates best practises observed with clients and leaders from...
The Family Office Model – An Introduction
26 Feb 2024
Asteri works with many families along the entrepreneurial journey, including when they start to consider the benefits of a Family Office. Through interviews with founders and family office executives we uncover learnings from success. This paper dives into the biggest mistakes, the best advice, and the functions needed for a family office that is both...
Philanthropy & Beyond – Building an Impactful Life
16 Aug 2023
Through Asteri’s philanthropy work with clients and in the community more broadly, we are increasingly encountering people actively seeking opportunities to create impact in a variety of ways, above and beyond traditional philanthropy. The Philanthropy & Social Capital team’s latest paper explores this emerging theme and identifies avenues for weaving purpose and impact into all aspects of...
From Good to Great – Critical Ingredients for Fundraising Teams
01 May 2023
This paper is written for fundraisers committed to honing their craft and in search of best practice. It draws on Asteri’s in-house experience of fundraising, advising fundraisers and working with philanthropic community. The paper highlights seven critical ingredients to get fundraising teams from good to great.
Raising & Investing Endowment Capital in the Education Sector – March 2023
07 Mar 2023
For many schools and universities, the desire to create endowment capital is a top priority. This report, a collaboration between Asteri and leading global strategic consulting firm, CCS Fundraising, explores endowment fundraising best practice and looks at how to successfully invest endowment capital.
Beginning your philanthropic journey
06 Mar 2024
Experience the pleasure and satisfaction that comes from knowing what you give makes a difference. This is a guide for those beginning their philanthropic journey. It explores why you should consider giving and explains mechanisms for incorporating altruistic activities into your tax, wealth and family succession planning.
Establishing an Investment Portfolio
02 Nov 2022
Large charitable and non-profit groups often come to the conclusion that establishing an investment portfolio is the right thing to do in the context of their mission and purpose. While some have experience of establishing and managing such a portfolio, many do not. The aim of this paper is to help charitable and non-profit leaders...
Top 10 Mistakes of the Australian Non-Profit Investor…And How To Avoid Them
14 Sep 2022
This paper is dedicated to helping non-profit trustees, directors and committee members spot and avoid potential mistakes and common pitfalls.
Investing for Non-Profits: 10 Investment Lessons for NFPs from the GFC
07 Sep 2022
At Asteri, one of the things we do is encourage our people to act as trustees, directors, investment committee members and advisers to charities, foundations and non-profits. In these roles we are often asked what the key investment lessons were for investment fiduciaries who are often still haunted by the GFC. This paper examines the...
Investing for Non-Profits: Essential Questions for Board and Investment Committee Members
07 Sep 2022
The basis for successfully investing non-profit reserves lies in addressing 10 key questions faced by all board and investment committee members. At Asteri, our experience – as trustees, directors, investment committee members and advisers to charitable and non-profit investors – leads us to believe that every non-profit board and investment committee can make more of...
An Effective Investment Policy Statement
07 Sep 2022
Investing reserves on behalf of a foundation, charity or non-profit organisation is a tremendous privilege, and one that comes with significant responsibility. It requires a fiduciary mindset, a willingness to thoroughly address all aspects of stewardship, and a robust investment governance framework. It also requires the organisation to understand how its reserve assets serve its...
Courage & Care: Managing Market Volatility
14 Dec 2022
Risk management for investment and finance committees in the time of COVID-19. This document is a revised and updated version of Courage & Care: Preparing for the Next Market Crisis, which was first published by Asteri a little over two weeks before the Australian stock market began its steep descent in response to the rising...
Courage & Care: Preparing for the Next Market Crisis
07 Sep 2022
A Checklist for Investment Committees – no-one in the investment community knows when the next big market correction is coming, but every investor needs to be ready for it. This checklist can’t completely immunise non-profit investors against all the pain of a market crash, but it can help ensure they are as well prepared as...
Major Giving: Data-Driven Fundraising
22 Aug 2022
More charities are turning to cutting-edge data activities, such as predictive analytics to drive major donor giving strategies. To realise these powerful tools, charities must first build a culture that embraces data. With this in mind, this paper explores: • The critical role data can play in major gift strategies • Creating an internal culture...
Alternative Assets for Superior Diversification and Returns
11 May 2022
When managing money in a world full of uncertainty, diversification is more important than ever. Alternative assets provide investors access to superior portfolio diversification and lower levels of volatility, which typically increases the likelihood of achieving an investor’s objectives over the long-term. In this paper, we discuss the role alternatives play in portfolios and explore...
Risk Management Guide and Health Check – A guide for not-for-profits and social enterprises
27 Oct 2021
For non-profits, risk management is an ongoing task that delivers impact while reducing exposure to unwanted outcomes. To help manage risks that you may be facing at your organisation, the Risk Management Guide and Health Check , a guide for non-profits and social enterprises, could be helpful. The guide is produced for Asteri and its...
Major Giving: Timeless Principles and Emerging Trends
22 Sep 2021
Fundraising is the lifeblood for many charities and major gifts can be transformative. But how do Australian charities tap into the fast-growing world of major gift fundraising? This report, a collaboration between Asteri and leading US strategic consulting firm, CCS Fundraising, sets out a four-pillar major gifts framework, highlights emerging trends and provides a practical...
The Principles Of Endowment Style Investing
16 Apr 2021
Since COVID-19 started, Asteri has seen a significant increase in larger charities and sophisticated non-profit groups reassessing how they manage their cash and reserves. Investment committees who realise they are operating in a new paradigm are re-evaluating their asset allocations and looking for better diversification. By observing how successful investors such as Yale University and...
Staying Future Focused: A how to guide for wealth after divorce or death of a loved one
31 Mar 2021
Death of a loved one or divorce – both scenarios can bring grief, anguish and the unforgiving sting of ‘what now?’. In facing these events, many clients have acknowledged they felt unprepared and overwhelmed. As such events bring about change, understanding your response to finances and wealth can help you avoid costly mistakes. In the...
Seizing the Opportunity: A Technology Entrepreneur’s Perspective
08 Mar 2021
In 2016 and 2018, Asteri Asset Management published ‘Seizing the Opportunity’, a series of insights uncovered through interviews with current and former business owners across a diverse range of industries. The research highlighted common wealth management concerns shared by entrepreneurs following the sale of their business. Importantly, the critical role of specialised wealth management advice in...
Asteri’s COVID-19 Investment Lessons for Non-Profit Committees
24 Feb 2021
The intelligent investor will learn more from the early stages of the COVID-19 pandemic than they will from the relatively benign years preceding 2020. Asteri’s team of non-profit investment specialists spent time reflecting on lessons drawn from their work with clients and in the market more broadly and this paper briefly examines our Top 10....
Responsible Investment – Using Your Capital for Profit and Purpose
14 Dec 2020
The purpose of this paper is to introduce the concept of responsible investment and highlight how this style of investing can help you successfully align your capital and your values. It is a reference point for individuals, families, non-profit organisations and charitable foundations who are curious about responsible investment, its evolution and how it can...
Giving Well – By Avoiding Big Mistakes
13 Jun 2020
What do zombies, sunscreen and drones have to do with philanthropy? To find out, read our list of five mistakes to avoid if you want to give and give well. Giving Well – By Avoiding Big Mistakes reflects Asteri’s deep experience of philanthropy and the broader charity sector in Australia. It is the latest in a...
The Upside of Time in the Market
20 Apr 2020
The idea of being able to time the market is emotionally appealing. After every significant market dislocation, the popular business press will carry the story of the market wizard who got it just right. The catch is that from one correction to the next, it is rarely the same wizard. The reality is that most...
Wealth with Intention: Navigating Opportunity After a Liquidity Event
13 Jun 2025
by Declan Ashby, Adviser & Partner, Asteri Asset Management Having started the business from nothing, now having sold it, the challenge for me mentally has been having one part of my brain telling me to go and...
Crisis Giving: Reflections & Observations for Fundraisers
13 Apr 2020
The paper includes a list (by no means exhaustive) of domestic and international resources focused on giving and income generation for the non-profit sector in times of crisis, highlights notable quotes from each of the sources listed and ends with a few of our own thoughts.
The Upside of Minimising Downside
09 Apr 2020
Minimising a portfolio’s losses in falling markets is far more important to long term investment success than maximising gains in rising markets. This paper examines the importance of upside/downside capture, and is part two of a trilogy series outlining the principles behind Asteri’s investment philosophy: diversification, upside/downside capture and time in the market. Parts one...
Navigating Non-Profit Organisations Through the COVID-19 Crisis
02 Apr 2020
In the early stages of the COVID-19 crisis, this paper draws on the experience of charity leaders, who have taken the time to share the actions they have taken, their approach to leadership and thoughts for the future. The paper also includes practical questions non-profit leaders should consider asking themselves as they navigate the crisis.
The Upside of Maintaining Diversification
28 Mar 2020
The phrase “diversification is the only free lunch in investing” is attributed to the Nobel Prize laureate Harry Markowitz. Investors accept this principle with few exceptions, however when faced with market turbulence many will retreat to the set of risks that are most familiar to them. In the process they often reduce the diversification of...
Helping Your Kids Without Ruining Your Life (or Theirs)
13 Feb 2020
How wealthy families help their children financially is a complex topic, as well as a deeply personal one. More families than ever are working through it. There are more than three times as many households with a net worth in excess of $5m compared to 15 years ago (adjusted for inflation). Families are smaller, meaning...
Executive Share Schemes – Maximising the Opportunity
13 Nov 2019
By Rashid Choudhury – Adviser & Partner at Asteri Asset Management An employee share scheme is often the single most important source of wealth generation for an executive over their working life, and such schemes come in different forms with different potential outcomes. For an executive to fully maximise the opportunity for this wealth creation tool, they...
A Snapshot of Australian Giving
13 Oct 2018
A Snapshot of Australian Giving is written for the benefit of donors and fundraisers. It is based on Asteri’s analysis of the latest giving data from a variety of sources. As well as presenting the data, the report features insights and observations based on Asteri’s direct experience with clients and the broader giving community.
Asteri Asset Management Impact Investing Advisory Service
13 Nov 2018
Impact-Investing-Advisory-Service Asteri is proud to offer clients the opportunity to build portfolios that reflect not just their financial objectives, but their values and their desire to invest in social and environmental change. We are excited to bring a pioneering impact investment advisory service to our clients. Impact investing for private, non-profit & philanthropic investors explains...
Seizing The Opportunity – A Fresh Perspective
13 Jun 2018
By Declan Ashby – Adviser & Partner at Asteri Asset Management Having recently completed interviews with a new set of business entrepreneurs, ‘Seizing the Opportunity – A Fresh Perspective’ is an extension of Asteri’s original white paper on wealth management after liquidity events. Our new research both confirms our first set of findings and introduces new...
The 2015 Asteri Asset Management Australian Giving Review
13 Aug 2015
An exploration of Australian giving, designed to help those interested in philanthropy understand the giving landscape. The review sets out ideas to provoke discussion about how giving can be encouraged in Australia.
The 2016 Asteri Asset Management Giving Snapshot
13 Nov 2016
The 2016 Asteri Asset Management Australian Giving Snapshot is an analysis of the latest annual giving statistics released by the Australian Taxation Office (ATO). Highlights of the Snapshot include: Giving grew 11.7% (year over year) to $2.6 billion Increased donations into Public & Private Ancillary Funds contributed significantly to the growth in giving Australian women gave more...
Preparing for the Future – Do or die for non-profit boards
13 Mar 2016
Life for non-profits is changing rapidly, and in many ways dramatically. Non-profit boards face a future that looks nothing like the past – one in which they must deal with changes in government policy, increased regulation and accountability, rising costs, higher funder expectations, the need to prove impact, systemic change, tougher competition and the impact...
Strategic Philanthropy – The Chan Zuckerberg Initiative
13 Mar 2016
In December 2015, Facebook founder Mark Zuckerberg and his wife Dr Priscilla Chan announced their intention to pledge 99% of their Facebook shares – then valued at A$62 billion – to a new philanthropic vehicle known as The Chan Zuckerberg Initiative. Asteri believes the Initiative is a game changer with the potential to completely revise...
Ensuring Your Plans For Your Super Become A Reality
13 Dec 2015
If you are one of the growing number of Australians with self-managed superannuation funds, it is important for you to have a sound understanding of the benefits associated with them. Who is entitled to what, both during your retirement and after your death, varies greatly from situations where assets are held directly. This critical part...
Strategic Philanthropy – Leadership Insights
13 Oct 2015
In August 2015, Christopher G. Oechsli, President and CEO of The Atlantic Philanthropies visited Australia to discuss the foundation’s work. Atlantic, a limited-life foundation that will make its final grants by the end of 2016 and will close its doors by 2020, has so far distributed A$10 billion, including A$590 million in Australia. Atlantic’s visit also allowed...
The 2015 Asteri Asset Management Non-Profit Review
21 May 2015
An exploration of the Australian non-profit sector. Designed as a tool to help non-profit leaders understand the landscape of the sector and compare and contrast their own organisation with industry trends.
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