Erikoissijoitusrahasto Taaleri Mikro Markka Osake is a non-ucits open-end fund domiciled in Finland. The Fund’s objective is long-term capital appreciation. The Fund invests its assets in Finnish small-cap stocks.
2019 turned out to be an excellent year for Micro Markka. Many small caps and equities in general rose substantially but we were able to outperform with our successful stock picks. December was a quite month with little news.
Our best performing stocks of 2019 were Harvia, Qt, VMP (Eezy), Pihlajalinna, Marimekko, Remedy, CapMan, Exel, Aallon Group, Tokmanni and Alma, all of which surged nicely over the year. On the negative side, we had several usual suspects with negative total returns including SRV, Vincit, SSH, Glaston and Teleste. We have sold our shares in SRV and Vincit completely. Fortunately, our winners clearly outweighed our losers. We expect our companies’ operating environment to stay good enough in order to enable further earnings growth. We wish our unitholders a Prosperous New Year 2020!