Latest performance numbers from the high-profile hedge fund run by Will Vicars and Mike Messara show the big pendulum swings caused by a concentrated equity portfolio.
The era of stocks being valued on market share or revenue growth is over, according to hedge fund managers Will Vicars and Mike Messara, who manage the $4.6 billion Caledonia Global Fund.
Vicars and Messara, as co-chief investment officers, are trumpeting the 18.9 per cent net return earned by the fund in the six months to December 31, and tipping “a sustained period of strong returns”.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
