Timely bets on AGL, New Hope, Whitehaven and Qantas rocketed Merlon’s value fund to the top of the Mercer investment survey for the 2023 financial year, outperforming the sharemarket by 11.7 per cent.
The performance marks an impressive turnaround for portfolio manager Neil Margolis, after the fund underperformed the market heading into the pandemic when interest rates were falling – an environment which usually works against value managers.
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