Research · 2025-03-15
From ETPs to global micro-caps
HIT Capital did not start as a micro-cap fund. The path from structurally inefficient products to today’s concentrated microcap portfolio is part of a decade-long journey.
HIT Capital began trading in 2013 with a different problem set: structurally inefficient exchange-traded products. Years later the fund added in quantitative analysis and sourced value-and-momentum stocks globally.
The fund does not have a micro-cap mandate but in 2021 the book started to transform toward almost exclusively cheap and growing micro-caps, pairing a value lens with high-quality momentum. Coverage of small, under-followed companies is where the in-house research software provided an edge, of which HIT Capital leans into today.
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