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Fifth Estate defies market carnage with new $250m small caps fund

The Australian Financial Review (AFR) •
November 11, 2026 • 01:52 AM
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Fifth Estate’s pitch to investors pointed out the small end of town was “approaching discounts not seen for 20 years”.

Fifth Estate defies market carnage with new $250m small caps fund

As the rest of the market reckons with the demise of a string of small-cap funds, one firm is swimming against the tide.

Sydney’s Fifth Estate Asset Management is raising for a new small companies fund, capped at $250 million, that is slated to start deploying capital as early as December 1, according to an email sent to investors on Wednesday.

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