Company Profile

Kaplan Funds Management Pty Limited (KFM) ABN 98 079 218 643, AFSL 240815 has been managing funds with an absolute return philosophy since 1998. The manager’s philosophy is derived from an income oriented investment style combined with active, risk averse and disciplined portfolio management. Kaplan’s management style has appealed to charities, foundations, defined pension funds, self-managed super and high net worth individuals seeking consistent returns with low volatility.

Kaplan is a wholesale fund manager with approximately $1.2 billion under management in both equities and interest rate benchmarked portfolios. Wholesale products include investment trusts for the professional investor market and charities, a pooled superannuation trust and discrete equities and income mandates for corporate clients. Kaplan manages the portfolio of Ironbark Capital Limited, an ASX listed Investment Company (ASX code IBC) capitalised in excess of $60m.

Key people

Sam Kaplan

Sam Kaplan, the Managing Director of Kaplan has over 35 years experience in the funds management industry and investment markets and a proven track record over a number of market cycles.

He successfully managed funds in his position as Investment Manager for the NRMA Group for over 15 years and has managed smaller funds for high net worth individuals and proprietary funds for Jamison Equity Limited and Patrick Corporation Limited.

Sam was integral in the establishment of the listed Qube Logistics previously known as KFM Diversified Infrastructure & Logistics Fund. Kaplan Funds Management was the investment manager of the fund until corporatisation in August 2011. Sam is the Deputy Chairman of Qube Logistics.

He has achieved above-average returns for investors over a number of market cycles through patient investing and by focusing on value opportunities and a disciplined approach to risk.

Douglas Hew

Doug Hew is an investment manager at Kaplan and has over 25 years experience in the funds management industry.

Previously, he was a director of Hopkins Partners Funds Management Limited and a senior fund manager at Potter Warburg Asset Management Limited and Hambros Australia Limited.


Kaplan Funds Management is wholly owned by Kaplan Partners. The directors of Kaplan Partners are: Sam Kaplan, Chris Corrigan, Tony Berg, Gilles Kryger, John Gerahty, and Peter Scanlon.

Investment Trusts for Wholesale Investors

Equities Fund
Absolute return focus over the medium to long term

Kaplan Charitable Equities Fund
Consistent income with modest growth

Kaplan Master Income Fund
Consistent income from high yielding securities

Pooled Super Trust (PST)
Absolute return focus over the medium to long term

Discrete Mandates

Portfolios designed to meet individual client requirements.

Read more about Discrete Mandates

Listed Investment Companies (LIC's)

Investment Manager for Ironbark Capital Limited (ASX code IBC)

Read more about LIC's

Latest Bulletins

  • Master Trust half yearly distributions to 31 December 2023 are Equities Fund (4.7c), Charitable Equities Fund (1.8c), Master Income Fund (1.18241c). Distribution payment date is 19 Jan 2024.
  • Master Trust (Equities Fund, Charitable Equities Fund, Master Income Fund) annual tax statements for FY23 will be available towards the end of September.
  • An amendment to the Trust Deed for the Kaplan Master Trust was made to allow for eligible funds to apply the tax law applying to attribution managed investment trusts (AMIT). This law is currently applicable to the Equities Fund.
  • Financial Reports for the Kaplan Master Trust funds and Kaplan Pooled Superannuation Trust are available under Investment Reports.
  • The Kaplan Pooled Super Trust (PST) offers investors a tax exempt “Pension Unit”. The new PST PDS and application form is available on our website.
  • The unit registry requires investors to register first before they can "login" for online investor information. If you have not previously registered, simply click "register here" at the bottom of the Investor Login web page and follow the prompts for registration.