The Naos Small Companies Fund was up +27.7% in May, continuing its recent run of impressive returns to post a three month return of +58.55%.
1 yr return: -15.05%. Annual (Jan 2005): +3.82%
The Fund's 2009 return now stands at +67%, comprising a consecutive five months of positive returns. However these results come after a particularly difficult 2008 for the Fund, down -63.63% for the calendar year and -20.37% in October alone.
Standout individual performers in May were positions in Acrux (+100%) and Austin Engineering (+35%).
