THE BALMORAL INVESTORS TEAM
Balmoral Investors is an Australian-based investment firm founded by experienced senior portfolio managers Wik Farwerck and Tim Canham. They bring a long track record as Co-Portfolio Managers of successful small and micro-cap, bottom-up investing, developed during their time at Colonial First State Global Asset Management and later First Sentier Investors.
Together they managed over $1bn in FUM for over 15 years with strong risk adjusted returns, out- performing the relevant benchmark by 8.3% pa over that period*.
The team’s investment process and valuation discipline have been tested across multiple market cycles, including the GFC, the Eurozone debt crisis, the 2015 commodity downturn, and COVID.
Across more than 30 years in investment markets, the team has built an extensive network of corporate and financial industry relationships. This network, alongside detailed financial modelling and rigorous stock thesis development, underpins the construction of high-quality small and micro-cap portfolios.
In 2025 Balmoral Investors partnered with Perennial Partners, a house of specialist investment teams. Perennial Partners provides strategic, operational and distribution expertise which allows the Balmoral team to focus on what they do best – bottom-up small and micro-cap investing.
* Fund: Colonial First State / First Sentier Developing Companies Fund Benchmark: S&P/ASX Small Ordinaries Accumulation Index. Performance shown is net of fees and for the period that Tim Canham and Wik Farwerck were appointed Co-Portfolio Managers of the Fund. The investment Strategy is the same investment strategy as that of the Balmoral Emerging Companies Fund. Past performance is not a reliable indicator of future performance.
TIM CANHAM
Senior Portfolio Manager and Founder
Tim is a Senior Portfolio Manager of and Founder of Balmoral Investors. In his previous role, Tim managed a range of Small Cap Australian Equities funds for Colonial First State and First Sentier Investors for 15 years. Tim started his career with the company as a member of the Research and Information team, before moving into the Australian Equities, Growth team as an Analyst in April 2002.
Prior to joining the company in November 2000, Tim was a Senior Performance/Quant Analyst at Baring Asset Management in London. He began his career in 1990 at Westpac Investment Management. His last position at Westpac was as an Investment Analyst in the tactical asset allocation area.
Tim holds a Bachelor of Arts in Economics and Political Science from the University of New South Wales, and is a CFA charter holder.
WIK FARWERCK
Senior Portfolio Manager and Founder
Wik is a Senior Portfolio Manager of and Founder of Balmoral Investors. In his previous role, Wik managed a range of Small Cap Australian Equities funds for Colonial First State and First Sentier Investors for 15 years. Wik initially joined the Australian Equities, Growth team as a Senior Analyst, where he was responsible for a range of small cap industrial securities.
Prior to joining the company in January 2006, Wik was a Senior Analyst at Linwar Securities. He also has more than six years’ experience as a sell-side analyst, having previously worked for BNP Paribas Equities. Prior to that, Wik worked for more than 10 years in management consulting and accounting as a Director of Arthur Andersen.
Wik has a Bachelor of Commerce and Masters in Business Economics from the University of Amsterdam, The Netherlands.