Pinnacle-backed fund managers are throwing their weight behind a fresh crop of fallen angels – companies that were once market darlings and now out of favour – which they believe are poised for a re-rating.

Speaking at the Pinnacle Investment Summit in Sydney on Wednesday, managers from Solaris, Firetrail, Spheria, Hyperion and Plato shared their best stock ideas across Australian and global equities. Their top picks spanned industries from infant formula to hearing implants, housing and electric vehicles.