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Argonaut Small Caps - Interim Reviews

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Small caps (ex-mining services) under coverage have performed well in recent months and are up 28% on average since 30 June 2017. Over this period GCS has fared the best (up 48%), TOX is up 43% following the bid from CWY in December, and CLX is up 40%. Exposure to the east coast and infrastructure has helped the share prices of DCG and SXE climb by more than 30%. PGC is up 5%, and ASB is up the least (although the 1% gain masks sharp moves both ways during the period).

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