Our winner, Alex Ely of Delaware Smid Cap Fund (up 58.7% over 12 months), sees opportunities as many industries undergo upheavals
“I haven’t been nearly optimistic enough—that’s been my problem,” says Alex Ely.
Mr. Ely, manager of Delaware Smid Cap Fund (DFCIX), is the No. 1 stock-fund manager after outpacing the managers of the other small-cap and midcap growth mutual funds that once again dominated The Wall Street Journal Winners’ Circle rankings. For the 12 months ended Sept. 30, Mr. Ely’s fund posted a return of 58.7%. (The name of the fund, which has $1.67 billion in assets under management, uses “Smid” to mean small and midcap.)