The Macquarie Small Companies Fund quarterly report as at 31...

The Macquarie Small Companies Fund quarterly report as at 31 December 2008 states..

"Key Contributors To Outperformance"

Overweight Positions
Neptune Marine Services - won contracts in the Gulf of Mexico, and had a strong AGM.

At this date NMS held the largest weighting in the portfolio of 6.44%. The total fund size is $14.0M.

Obviously NMS is held across a number of Macquarie funds, however it is more than plausible that Macquarie have had to re-weight with the outperformance of NMS in such a small FUM product.