The mantra of microcap stockpicking duo Chris Prunty and Tony Waters is that "size is the enemy of performance".
The pair have united for the fourth time in their careers to launch their own "microcap" fund and are telling prospective investors they will limit the size of their fund to ensure returns don't become a victim of a fund that's too big.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
