Business
Small and mid-cap managers reload after tough May – The Australian Financial Review
They are turning their attention towards stocks more focused on the local economy, hoping border closures will support spending at home.
Tech stocks, including Zip Co, Nearmap and Nuix, were also weaker, and battery-focused materials producers such as Ioneer, Nickel Mines and Galaxy Resources declined after making a strong start to 2021.
The rotation from high growth and revenue multiple stocks into value and cyclicals has continued, Mr Hickson said.
The underperformance of tech stocks has hurt the smaller end of the market in particular. Tech stocks represent double the weight in the Small Ordinaries than they do in the S&P/ASX…
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