Just four companies — Afterpay (ASX:APT), Appen (ASX:APX), Altium (ASX:ALU) and WiseTech (ASX:WTC) — provided more than 60 per cent of the Small Ordinaries Index’s returns for the month of August.
For many small cap fund managers, if you didn’t own those stocks, you generally under-performed in August.
One fund that looks to have beaten the odds is the Bennelong Avoca Emerging Leaders Fund.
Writing in its August update, the fund returned 3.15 per cent for August, beating its benchmark S&P/ASX Small Ordinaries Accumulation Index return of 2.49 per cent. The fund does not appear to own any of the four tech stock market darlings.