Funds with a small-cap bias were the big winners in the latest quantitative FE/Fundinfo Crown Ratings, with five small-cap funds being upgraded to five Crowns, the highest-possible rating.

The latest rebalance of the ratings has provided a boost for those companies sitting in the ACS Equity – Australian Small/Mid Cap sector with several funds receiving an upgrade to five Crowns.

Smallco Investment, Ophir Opportunities and Celeste Australian Small Companies all moved up from two Crowns in February to five Crowns, while the Australian Ethical Emerging Companies and OC Micro-Cap moved from three Crowns to five. 

Five Crowns were awarded to funds which were in the top 10% based on alpha, volatility and consistently strong performance. In total, there were 17 funds in this sector awarded a five Crown rating.

Small caps have performed well recently, particularly those with a micro-cap slant, and the ACS...