It was often savvy bets at the smaller end of the market that shot the top-performing fund managers to the top of the leader table in the last financial year.
Already a subscriber?Little known cryptocurrency investor Merkle Tree Capital has emerged as the best performing fund manager of the last financial year, with savvy bets on small-caps also delivering big returns for others.
“We knew that ETFs were coming when we set up the fund,” he said. “We’re not adding value unless we think we can beat the number one asset in the space.”Advertisement The fund currently holds between 20 per cent to 30 per cent of its fund in Solana, the largest stake behind a 50 per cent holding in bitcoin.Looking ahead, Mr McMillin believes crypto is moving into a bull market thanks to looming US interest rates cuts and the potential return of Donald Trump to the White House that he said would “really concentrate on America being a leader in the crypto space”.
Mr Frazis said his fund’s strategy was to pick the best stocks from both the S&P 500 and the ASX. That combined approach kept the fund heavily exposed to US tech giants and chiefly chipmaker Nvidia,“For much of the year semiconductors were our largest sector exposure. We stuck to the winners with Nvidia, with the leading designs, Taiwan Semiconductor, the leading manufacturer, and ASML.
That combination of global exposure mixed with local small caps also helped Pengana High Conviction Equities rank second, with a near 56 per cent return. The fund, co-managed by former Hunter Hall portfolio manager James McDonald, also rode the rally in Clarity Pharmaceuticals, as well as strong gains in ASX-listed Brazilian Rare Earths and titanium processing company IperionX.
Regal Australian Small Companies Fund, co-managed by Mr King, Todd Guyot and James Sioud, also ranked No.1 among Australian equity funds in calendar 2023.utilities software developer Gentrack were among the best performing.
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