Published by Crain Currency (August 15, 2023): Smaller and emerging managers can be a significant but overlooked source of alpha. Often hungrier and full of well-researched, actionable investment ideas, many first-time fund managers outperform established managers, who can become complacent while wedded to outdated positions. At Appomattox, we have spent two decades evaluating and allocating to early-stage managers. We define small funds as those with less than $100 million in assets and emerging funds as those with less than a two-year track record. How do we evaluate those funds without a longstanding track record? PRISM AND PATTERN RECOGNITION Read article here (login required for full article access).