Small-cap boutique promotes former journo

NovaPort Capital, a small microcap boutique, has promoted a former financial journalist to portfolio manager.

Tim Binsted will be responsible for investment research and capital allocation for two of the firm's funds - NovaPort Smaller Companies Fund and NovaPort Microcap Fund.

As a portfolio manager, he will work alongside Sinclair Currie and Alex Milton.

Binstead joined NovaPort Capital in October 2019 as an analyst.

Before that, he worked at Adam Smith Asset Management for three years as an analyst covering Australian small and microcap equities.

Previously Binstead was a financial journalist with The Australian Financial Review.

Alex Milton, NovaPort principal and co-portfolio manager, said Binsted's promotion reflects his strong stock-picking skills and contribution to the portfolio construction process.

"This promotion reflects Tim's rapid progression since joining NovaPort four years ago,"  he said.

" He has become a proactive and valued contributor to stock discussions beyond companies under his purview as well as participating in the portfolio construction process.

Binsted acknowledged his pathway was non-traditional but that having a different background can help when hunting for undervalued stocks.

"There is a significant opportunity to buy quality at attractive prices, as investors tend to overlook and underappreciate the value of small and microcap companies," he added.

The performance of both funds has been strong over the long term, with the NovaPort Smaller Companies Fund and the NovaPort Microcap Fund delivering annual after-fee returns of 11.35 per cent and 8.16 respectively, since inception.

NovaPort Capital is part of Fidante, the investment management business that forms long-term alliances with managers.