It’s results day for small-cap fundies and there’s red ink all over their report cards.
It’s results day for small-cap fundies and there’s red ink all over report cards.
An early look sent out last week said smaller companies/emerging companies type funds wiped off 15.3 per cent in the year to June 30, on average. That’s a bigger loss than Mercer’s benchmark of choice, the SOf course, fund managers care far less about the collection performance and more about the individual winners and losers. So, here’s the low down.
The worst performers on the list included Lakehouse Small Cap Value and Hyperion small caps fund . Two of First Sentier’s small cap strategies were down about 26 per cent. The Regal Australian Small Companies Fund was down -22.9 per cent. Of course, people would argue that three-year returns are a better measure of a fund manager’s performance than 12 months, especially in a year as volatile as FY22.
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