How a $1b fund turned a three-page letter into an investment edge

An employee-owned Australian boutique, established in May 2010, managing two distinct equity strategies for advisers and long-term investors.

Meet the Team

Merlon's investment team has applied the same philosophy since 2005, with more than 20 years of average industry experience.

Advisory Board

Independent of the investment team, the Advisory Board reviews and advises on Merlon's formal engagements with the boards of the companies it owns.

philosophy

Investment Philosophy ESG Philosophy Investment Process ESG Integration and Engagement

Investment Philosophy

We believe people are motivated by short-term outcomes, overemphasise recent information and are uncomfortable having unpopular views.

ESG Philosophy

Deep consideration of governance, social and environmental issues - coupled with active ownership - enhances investment, business and community outcomes.

Investment Process

At Merlon we focus on assessing the sustainability of a company's free cash flow because we believe that is the basis on which companies should be valued.

ESG Integration and Engagement

At Merlon we are committed to ESG integration and active ownership, including formal engagement with our portfolio companies.

funds

Our Funds Concentrated Australian Share Fund Australian Share Income

Our funds

Two distinct equity strategies. One disciplined investment philosophy.

Concentrated Australian Share Fund

A high-conviction portfolio of undervalued Australian companies, built without reference to index weights.

Australian Share Income

A high-conviction portfolio engineered for sustainable monthly income, with built-in downside protection.

performance news & insights

invest online

Concentrated Fund Income Fund

Get in touch

Phone

1300 721 637 +61 2 8023 5428

info@merloncapital.com

invest online

Concentrated Fund Income Fund

How a $1b fund turned a three-page letter into an investment edge

Australian Financial Review

How a $1b fund turned a three-page letter into an investment edge | Jul 27, 2026

“Success is a culture of integrity, passion and purpose. Deep client trust. Investment outcomes
worth the trust. A business built to outlast us.”

How a $1b fund turned a three-page letter into an investment edge

Australian Financial Review

How a $1b fund turned a three-page letter into an investment edge | Jul 27, 2026

“Success is a culture of integrity, passion and purpose. Deep client trust. Investment outcomesworth the trust. A business built to outlast us.”

“Success is a culture of integrity, passion and purpose. Deep client trust. Investment outcomes
worth the trust. A business built to outlast us.”