The Armytage Team

Armytage has a highly skilled and experienced team with proven investment management capabilities, and our success has been built on the strength and passion of our people. Our team of highly experienced business and investment professionals come from a variety of industries, including funds management, investment banking, stock broking, science and finance, providing the depth of skill and knowledge required to build and operate a high-performing investment management firm. This unique blend of experience and ability also promotes insightful analysis and debate among the investment team, bringing a high degree of rigour to Armytage’s fundamental research driven investment process.

Lee IaFraté

Director/Portfolio Manager

B.Bus, FCPA, SF FIN,

GradDipAppFin&Inv.

  • Founding Chairman of Armytage Private
  • Responsible for portfolio management of the Armytage IMA Service, sector & stock analysis, as well as equity and option dealing
  • A Member of the Industry Research and Advisory Committee
  • Founder and former Chairman of Treasury Group
  • Founder & Former Director of AVFM Ltd/Prime Financial Group
  • Founder & Former Chairman of Easton Investments Ltd

Founding Chairman of Armytage Private

Responsible for portfolio management of the Armytage IMA Service, sector & stock analysis, as well as equity and option dealing

A Member of the Industry Research and Advisory Committee

Founder and former Chairman of Treasury Group

Founder & Former Director of AVFM Ltd/Prime Financial Group

Founder & Former Chairman of Easton Investments Ltd

Lee has been in the financial industry for over 30 years, with broad experience ranging from stock broking and funds management to principal lecturer at the Securities Institute of Australia. Lee is the Executive Chairman of Armytage.

In 2009 till 2013, Lee was the founder and chairman of Easton Investments Ltd; a listed company also specialising in financial services. Lee was also the founder and chairman of Treasury Group Limited (ASX: TRG) from 1997 until 2006. TRG established a number of boutique funds management businesses, which it supported with finance and administrative assistance, and later listed on the ASX. During Lee’s tenure at TRG, funds under management grew from a minor base to a peak of over $15 billion. Lee was also responsible for establishing and developing AVFM Limited with a diversified financial services focus, as well as boutique fund manager Armytage Private where Lee is Executive Chairman. Armytage Private has been operating since 1995.

Prior to establishing these companies, Lee was a stockbroker at Tolhurst Noall and McKinley Wilson with responsibilities spanning retail and wholesale funds management, securities operations, corporate restructuring, capital raisings and mergers and acquisitions. Lee has also provided advice on corporate governance and strategic planning issues to a number of institutions.

Austin Ngo

Director/Portfolio Manager

CPA B.Com (Acct & Fina)

Austin graduated from The University of Western Australia, majoring in Accounting and Corporate Finance.

Austin currently manages a wide range of Individually Managed Accounts (IMAs) as well as one of Armytage pooled funds, being the Armytage Micro Cap Activist Fund. He is also a member of the investment and research team. His focus is on quantitative & qualitative analysis using software such as Bloomberg and IRESS.

Austin previously worked in Public Practice firms with specialisation in Tax Consulting and Financial Accounting. At Armytage, Austin manages Armytage financial accounts and oversees the accounting department of Armytage.

Austin became a Certified Practising Accountant (CPA) in 2020

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Julian Mitchell

Portfolio Manager

Citadel Fund Managers Pty Ltd.

B.Bus, Hons

Responsible for Citadel Fund Managers IMA accounts.

A Member of Armytage Industry Research and Advisory Committee

Julian was a founder and Director of DMP Asset Management and its antecedents (JM Financial Group and Lowell Asset Management) and he worked there for 25 years. During this time he was the Investment Director and led a team of fund managers which had grown to 5 by 2015 He was ultimately responsible for the performance of client funds. He was also a Responsible Officer of DMP.

Prior to setting up DMP and its antecedents, Julian worked for a large American bank in both London and New York where he worked in variety of roles including as a stock research analyst and in the investment banking division.

Julian graduated with a BA(Hons) from Melbourne University and his interests include; stocks, history, the share market and equites (and the share market).

Patrick Trindade

Director/Investment Consultant

B.Com

Responsible for portfolio management, stock & sector analysis, and macroeconomic strategy

A Member of the Industry Research and Advisory Committee

Patrick Trindade has over 20 years’ experience in the finance sector, including over ten years as the Head of Private Wealth with two leading Australian stockbroking firms.

Patrick specializes in advising both High Net Worth and Institutional clients in all aspects of equities, cash investments, derivatives, and managed investment schemes, focussing on portfolio management and asset allocation

Patrick is an accredited securities dealer in Australian and international equities, managed funds, fixed interest, margin lending, exchange traded options, foreign exchange, and superannuation products.

In addition to these industry qualifications, he also holds a Bachelor of Commerce from Deakin University as well as being ASX Level 1 & 2 options accredited.

Patrick is also a regular contributor to a number of national publications as well as contributing to a number of prominent on-line investor forums.

Residing in Melbourne, Patrick’s hobbies include golf, thoroughbred racing, travel, and volunteer charity work.

Olivia Setchell

Portfolio Manager

Olivia manages several high net worth family accounts and is solely responsible for the investment portfolio of listed assets in Australia and International markets.

Olivia joined the Armytage team as a portfolio manager based in Sydney, she was initially a dealer at 452 which gave her a good foundation in understanding the market and key stock drivers.

Jessica Ting

Accountant

B. Acct, M.Com

Jessica graduated from RMIT University with her Master of Commerce in 2019. Whilst new to the sector Jessica is enthusiastic to gain experience in financial services. In her role Jessica is responsible for Armytage’s financial accounts and taxation, as well as providing assistance to Portfolio Managers and our clients.

Amelia Nguyen

Portfolio Administrator

B. Bus (Banking & Finance)

Amelia joined the Armytage team after graduating from Monash University in 2025 with a Bachelor of Business in Banking and Finance. Combining a sharp academic foundation with a passion for the industry, she ensures our operations run seamlessly. Amelia is responsible for portfolio administration and provides dedicated support to our clients and Portfolio Managers.