Ausbil Closes Long Short Focus Fund
The asset manager is returning capital to investors after the fund failed to meet fundraising expectations.
Updated on Oct. 29, 2026 in Corporate Finance
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Ausbil Investment Management is shutting down its Long Short Focus Fund, which held $27 million in assets. The firm is now in the process of returning capital to investors after the strategy failed to meet fundraising goals.
Why it matters
The closure reflects a broader consolidation within the firm as it moves to wind down its Delta Adjusted division. Ausbil is also implementing a significant leadership reshuffle alongside the fund liquidation.
The closed Long Short Focus Fund held $27 million in assets, a fraction of the firm's $22 billion in total funds under management reported in September 2026. Ausbil is returning this capital to investors as part of its strategy to wind down the Delta Adjusted division.
The players
Ausbil Investment Management
An Australian investment manager that oversees multibillion-dollar portfolios across various asset classes.
Gian Pandit
A portfolio manager who is departing the firm following the closure of the Long Short Focus Fund.
Chris Smith
A portfolio manager who has resigned from the firm and is set to depart by the end of 2026.
Nicholas Condoleon
An executive at the firm who has been appointed as the new co-head of Australian equities.
Luke Smith
An experienced staff member at the firm who has been named the new head of equities research.
The details
Two portfolio managers, Gian Pandit and Chris Smith, are leaving the firm as part of a wider equities team reshuffle. Nicholas Condoleon has been appointed co-head of Australian equities, while Luke Smith, who has a tenure of more than a decade at the firm, takes on the role of head of equities research.
Timeline
As of September 2026, Ausbil recorded $22 billion in funds under management.
The report regarding the fund closure was published on 29 October 2026.
Chris Smith is scheduled to depart the firm at the end of 2026.
Market Landscape
This closure follows the ongoing trend of boutique fund consolidation in the Australian asset management sector. Ausbil is actively streamlining its portfolio offerings to focus on core equities research, marking a departure from the firm's previous expansion into Delta Adjusted strategies.
Investors who held capital in the Long Short Focus Fund will receive their funds back as the firm completes the liquidation process. The leadership changes in the equities division are not expected to impact the service levels for the broader client base.
The takeaway
Investment firms often streamline their product offerings to maintain efficiency when specific strategies fail to reach scale. Investors should regularly monitor the performance reports and strategic updates provided by their asset managers to stay informed of potential fund closures.
What happens next
Chris Smith will officially leave the firm at the end of 2026.
Further reading
For more information on the evolving financial landscape, see Corporate Finance.
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