Sydney
OVER in Sydney, one fund is leaving the rest of the market behind by having the courage to bet the house on just a handful of stock picks. The Bennelong Concentrated Australian Equities fund is beating its competitors and almost doubling its benchmark by holding as few as 20 shares at any one time, just one quarter of what is held on average by its peers.
The strategy has helped the fund return more than 26 per cent in the 12 months till September, the best performance among more than 500 Australian large-cap equity funds.
The fund is part of one of the country's fastest-growing boutique money managers, which has doubled its assets to A$8 billion (S$8.5 billion) within the past three years...
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