Farnam Investment Mangement is an independent investment manager owned entirely by its Directors. The investment decisions of Farnam are dictated by an investment committee of four highly qualified and experienced individuals with backgrounds in funds management, securities research, stockbroking, investment banking, insurance and accounting. Together the investment committee of Farnam have over 50 years experience in financial markets and a mutual passion for discovering value for investors.

Peter Durbin

Managing Director

Peter is the founder and Managing Director of Farnam Investment Management and heads the Farnam investment committee. Peter has over 26 years experience in the financial services industry. In addition to equities research and portfolio construction, Peter has a sound understanding of superannuation, income bearing instruments, financial planning and property trusts. Peter has spent the majority of his career with Morgans Financial (previously RBS Morgans, ABN Amro Morgans) and has managed the Newcastle Branch since 2001 where he has provided advice to a large and diverse retail client base.

Peter has a passion for value investing and follows the Warren Buffett methodology of selecting investments. Peter holds a Bachelor of Commerce from the University of Newcastle and has completed the two year certificate course through the former Securities Institute of Australia (now FINSIA). Peter is an Associate of the Securities Institute of Australia.

Frances Agelavu


Frances is a Director of Farnam Investment Management and has responsibility for portfolio management, construction and compliance. Frances has over 13 years’ experience in the financial services industry both domestically and internationally. Frances spent a decade working in institutional equities for the global investment bank J.P.Morgan and has also worked in insurance for Cap Gemini and retail stockbroking for RBS Morgans.

Frances uses her global experience to overlay macroeconomic analysis for the Farnam portfolios. Frances holds a Bachelor of Business, a Graduate Diploma of Applied Finance and a Professional Diploma in Stockbroking and is a Senior Associate of the Financial Services Institute of Australasia.

Daniel Ireland

Senior Equity Analyst

Daniel is a senior equity analyst and a member of the investment committee for Farnam Investment Management. Daniel uses a combined quantitative and qualitative approach to value stocks based on fundamental principles and aids in risk management for Farnam’s domestic portfolios. Daniel has completed a Bachelor of Commerce at the University of Newcastle, majoring in Accounting and has experience in the accounting profession.

Luke Durbin

Equity Research

Luke is an equity research analyst at Farnam Investment and also sits on the Investment Committee. Luke uses his past experience from the private accounting industry in his analysis of ASX-listed companies. Using a bottom-up investing methodology, Luke takes a long-term view in examining the market in search of excellent, high growth companies undervalued by the market. Luke holds a Bachelor of Business (Management) from the University of Newcastle and a Master of International Business from the University of Sydney.

Joshua Durbin

Equity Research

Joshua is an equity research assistant and a member of the Investment Committee at Farnam Investment Management. Joshua is a follower of the Buffet school of investing and uses a bottom up approach to find the best companies that meet Farnam’s investment criteria. Joshua holds a Bachelor of Medical Radiation Science (Nuclear Medicine) from the University of Newcastle, and has studied a Bachelor of Engineering (Computer) for two years. He has accreditation in Bookkeeping and is currently completing his Diploma of Financial Planning.

Luke Winchester

Equity Research

Luke is an equity research assistant and a member of the Investment Committee at Farnam Investment Management. He performs research for both domestic and international equities, with a particular focus on high-growth small to mid-size market capitalisations. Luke holds a Bachelor of Business from the University of Newcastle.

Nicholas Cummings

Equity Research - International

Nick is a member of the investment committee for Farnam Investment Management. He is responsible for international equity research and portfolio operations. Nick has previous experience in early stage venture capital and accounting. Nick holds a Bachelor of Science, concentrating in Finance, from Westminster College (Salt Lake City, USA).

David Fox

Head of Research

David is the Head of Research for Farnam Investment Management and sits on the Farnam Investment Committee. David has been involved with the financial markets from the age of 18 when he began trading his own money on the derivatives and equities markets. Returning to university he obtained a B.Sc in medical science (with first class honours) and a PhD in finance. He has provided investment advice to some of Australia’s premier hedge and superannuation funds, covering sectors including health and biotechnology, retail, media and property while working with groups including Shaw and Partners.