Twenty-three years after going out on his own to start a small cap fund, David Paradice has backed Sam Theodore to find value in a sector where the little guys have been losing out.
Recap on key themes of 2022This year has not been a good one for small caps. To the end of November, the Small Ordinaries Accumulation Index (Small Ords) had fallen 15.2% compared with a rise of 4.0% for the Top 100 stocks. The sectoral divergence has also been significant with.
Losses in the information technology and healthcare sectors outweighed energy gains leading to a -6.4% total decline for the ASX200 in January, as the spectre of rising interest rates increased volatility
Losses in the energy and financial sectors outweighed materials and communication services gains leading to a -0.54% total decline for the ASX200 in November, as volatility increased with news of a new covid variant