Australia’s largest Tesla backer, Brisbane-based Hyperion Asset Management, outperformed in September as its flagship fund rode the rally in technology and artificial intelligence stocks.
The firm’s nearly $4 billion Global Growth Companies Fund gained 4.5 per cent last month, beating the MSCI World Accumulation Index’s 2 per cent gain, with electric vehicle car manufacturer Tesla, Dutch semiconductor chip machine maker ASML Holding and software company Palantir Technologies leading the portfolio’s returns.
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