Fund Updates | November 2017
The Australian small-cap market continued its strong finish to calendar year 2017 with the S&P/ASX Small Ordinaries Accumulation Index up 3.9% and the S&P/ASX Small Industrials Accumulation Index up 2.8%.
The prevailing mood in small-caps remains 'risk-on' particularly in the commodity space where the lure of fast returns and a fear of missing out seems to be driving the price action in some of the more speculative resource names, many of which are not yet in production let along turning a profit. We do however acknowledge there is a strong structural growth story underpinning some of these stocks, particularly in 'new energy' commodities such as cobalt, lithium, graphite and nickel, where commodity-price momentum has been driven by the rise of electric vehicles and the emergence of energy storage devices such as lithium-ion batteries.
Thank you again for your ongoing support and we wish you a safe and happy Christmas.
View November 2017