Paradice Investment Management (Sydney) declare an 11.2 million...

Paradice Investment Management (Sydney) declare an 11.2 million share stake (5.4%) as at 15/5 taking it over 5%.

(18/5 Comment). Paradice is a very good name to see on the share register; It was the largest small cap fund in Australia (probably still is, but I haven't checked). Has a stellar track record. Very bottom up approach to investing, with strong emphasis on getting to know management. They have been aggressively buying since February. Given such low MML turnover, I am surprised they haven't moved the stock more. Shows there must still be institutions selling down.

Given the size of Paradice's small cap fund (somewhere around A$2 billion), I expect them to keep buying. They need to build a stake that has a material impact on the performance of the fund, otherwise it is not worth investing the time in understanding and building the position. The current position is probably less than 0.5% of the fund's AUM (assets under management). Accordingly, they will likely be aggressively adding, while hoping that the stock doesn't pop on them. Very good news. A great new ally for all those hardy shareholders who have stayed the course with MML!