Fundies pitch top stock ideas as CFS's Greg Perry enters Hall of Fame

There’s a natural tension between fund managers and stockbrokers, two sides of the trading floor each bidding to secure the best deal.

Once a year, these two groups step out of the battle of markets, lay down their arms, and come together to raise money to support the incredible work of Odyssey House and the Sydney Children's Hospitals Foundation.

The Australian Funds Management Awards are not your average industry gathering; they celebrate investment excellence, but the main focus is raising money to support community-based charities.

Awards are given for exceptional investment performance in Australian and international equities, and an individual is inducted into the Funds Management 'Hall of Fame'. All the awards are sponsored with proceeds going to charity.

In addition, the highly anticipated and entertaining Annual Charity Calcutta takes place. In this stock-picking contest, fundies and brokers donate to enter a single stock in a 12-month competition. More on the latest Hall of Fame inductee, award winners and the 2026 Calcutta Picks below.

Greg Perry inducted into the Fund Manager Hall of Fame

The Hall of Fame now has 25 members, an award that recognises individuals who have made a significant contribution to the funds management industry. The full list is above, and over the years I’ve been fortunate enough to have interviewed or met with the majority of them.

This year Greg Perry was inducted into the Hall of Fame. I'd heard of Greg but never met him, his investing career ended almost a decade before I opened my first trading account. 

When I polled the market veterans in attendance about Perry’s nomination, the response was almost unanimous: “long overdue” and “a glaring omission” from the list, with many adamant that Perry is the best investor Australia has seen. His performance numbers are off the charts, which helps explain why his peers regard him so highly.

Perry was Head of Australian Equities and Manager of Imputation Style Funds at Colonial First State, where his tenure spanned 14 years from 1988 to 2002. 

He coined an investing approach known as GDP Plus - effectively looking for businesses that could consistently generate earnings ahead of the broader economy.

When he found them, he took big positions and, in his own words, “we were all over them”. Perhaps an indication of his focus comes from an anecdote David Paradice shared: Perry lived in a two-bedroom apartment, one room for sleeping, the other wall-to-wall with newspaper and magazine clippings covering the companies of interest.

A framed photo from Perry’s retirement, shown in the evening, offered a glimpse into his investing skills. 

Under Perry’s stewardship, the Colonial First State Imputation Fund delivered before-fee returns of 23.08% p.a. from 1990 to 2022, outperforming the All Ords by 11.78% p.a.

$1,000 invested at the start of the performance period would have grown to be worth $10,701 after reinvestment of distributions. The strategies overseen by Perry grew from ‘modest beginnings’ to being the largest equity fund manager in Australia with $25 billion in assets under management.

Perry accepted the award, fondly recalling his time at Colonial First State and giving a special call-out to his wife, Lisa, who joined him on stage for a photo to mark his recognition.

No doubt there is much more to Perry’s story, and I’ve invited him to join Matthew Kidman on the Success and More Interesting Stuff podcast, which he's agreed to, and we look forward to publishing before year-end.

Congratulations Greg and Lisa!

Calcutta 2027: A stock picking challenge where everyone wins

The Calcutta Challenge is a stock picking competition where those in the room pick the ASX stock with a >$1 billion market cap they think will have the best total return over the next 12 months; shorts get double points.

The running of the Calcutta has become an art form, with Evans & Partners Adam Woods and Bill Forde delivering a month-by-month recap of last year's runners before soliciting bids for entrants in the 2027 Calcutta. If investing were a sport, Woods & Forde would be your Ray Warren and Gus Gould’s of the commentary team.

Proceeds raised from the Calcutta go to support charity partners Odyssey House and the Sydney Children’s Hospital Foundation.

Broking firm Canaccord Genuity took the win with their 2025 pick of Electro Optics Systems (ASX: EOS).

Below is a selection of this year’s Calcutta nominations, and I’m told more picks came in throughout the evening. I’ve deliberately kept the nominations anonymous, as the stocks are pitched in the spirit of the evening and to raise money for a charity. Well done and good luck to all those participating in the 2027 Calcutta.

Important: The stocks mentioned below are not and should not be taken as recommendations.

Long ideas

• Alcoa (ASX: AAI)
• Lynas Rare Earths (ASX: LYC)
• BCI Minerals (ASX: BCI)
• PLS Group (ASX: PLS)
• Nickel Industries (ASX: NIC)
• Aspen Group (ASX: APZ)
• James Hardie (ASX: JHX)
• GemLife: (ASX: GLF)
• Life360 (ASX: 360)
• Light & Wonder (ASX: LNW)
• Megaport (ASX: MP1)
• NextDC (ASX: NXT)
• MAAS Group (ASX: MGH)
• PYC Therapeutics (ASX: PYC)

Shorts

Shorting is a tricky game but with double points on offer one investor was game to call time on the stellar run of one particular market darling. 

Running of the 'Golden Bulls' - 2026 Fund Manager Award Winners

On the night, awards recognised exceptional performance across a range of equity strategies - from small and large caps to global equities and long/short funds.

Congratulations to the winners and finalists, and a big shout-out to the awards sponsors for their continued support.

Best Australian Small Companies Fund

Winner: WAM Active (ASX:WAA)

Award Sponsor: Moelis

Runners Up:

• DNR Capital Australian Emerging Companies Fund
• Ellerston Australian Micro Cap Fund
• Firetrail Australian Small Companies Fund

Long/Short - for the best absolute long/short manager

Winner: L1 Long/Short Fund (available via ASX: LSF)

Award Sponsor: Royal Bank of Canada

Runners Up:

• Paradice Equity Alpha Plus Fund
• Regal Atlantic Absolute Return Fund
• Solaris Australian Equity Long Short Fund

Best Australian-based global manager

Winner: Ophir Global Opportunities Fund

Award Sponsor: Canaccord Genuity

Runners Up:

• Loftus Peak Global Disruption Fund
• Munro Climate Change Leaders Fund
• PM Capital Global Opportunities Fund
• Vinva Global Equity Fund

Golden Calf Award - Mid Caps

Winner: Spheria SMID Cap Fund

Award Sponsor: Macquarie

Runners Up:

• Eley Griffiths Mid-Cap Fund
• Pendal Mid-Cap Fund
• Yarra Emerging Leaders Fund

Golden Bull - for the best large cap manager

Winner: RQI Australian Value

Award Sponsor: Shaw and Partners

Runners Up:

• Allan Gray Australia Equity Fund
• Ausbil Australian Concentrated Equity Fund
• Clearbridge Equity Income Fund
• Maple-Brown Abbott Australian Share Fund

An important final word

In addition to the ongoing support of Odyssey House and The Sydney Children's Hospital, The Australian Fund Manager Foundation invites a charity to be a Pledge Partner at the awards night.

This year, that charity was Orygen, a charitable organisation focused on providing services and support to individuals and families dealing with youth mental health, with a particular focus on the prevention of youth suicide.

2010 Australian of the Year Professor Patrick McGorry AO addressed the room, highlighting the devastating reality that suicide is the #1 cause of death for Australians aged 15 to 24. 

We also heard from the father of a suicide victim whose daughter tragically lost her battle with mental illness.

The room was silent; the only words I have to describe his address are devastating and brave. He told us that he was there because he believed that's what his daughter would have wanted her story to be told. 

More than $110,000 was raised for Orygen on the evening, and you can learn more about their work and support services here. 

Congratulations to the Australian Fund Manager Foundation Committee and the team from Odyssey House on running a fabulous event in support of such worthy causes.