The top-performing small-cap funds over one year mostly had a large overweight position in resource stocks and minimal tech exposure, Morningstar data shows. The worst-performing funds did the opposite.
Among the top performers, the Paradice Australian Small Cap Fund returned 23 per cent over one year to end-April 2022. The fund had a large overweight position in mining and energy stocks, and almost no exposure to tech stocks. The Microequities Value Income Fund and Microequities High Income Value Microcap Fund were other top performers.
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