The new financial year carried over the positive momentum of the June quarter, albeit the domestic small-cap market was predominantly driven higher by resource stocks, particularly gold miners, with several surging to record highs during the month.
The strong resources sector saw the S&P/ASX Small Ordinaries Accumulation Index finish the month up +1.4%, which was well ahead of the S&P/ASX Small Industrials Accumulation Index which recorded a small fall of -0.1%. The OC Premium Small Companies Fund and OC Dynamic Equity Fund finished the month ahead of both indices, returning +2.8% and +4.8% respectively over the same period. This was a strong result given that the Fund does not invest in single commodity, single mine resource stocks.
The OC Micro-Cap Fund also enjoyed a strong month returning +8.5%, which was ahead of the robust +6.9% return of the S&P/ASX Emerging Companies Accumulation Index.
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