Nomura Small Cap Growth Fund on Silicon Motion Technology Corporation
Thesis
Silicon Motion was a notable contributor in the quarter as demand for NAND flash controllers recovered strongly. The position fits the fund's preference for technology companies where industry tailwinds translate into demonstrated revenue growth rather than purely speculative optionality. The rebound in controller demand provides the operating backdrop for the fund's continued exposure to the name.
“Silicon Motion Technology Corp. delivered notable performance as the company benefited from a powerful recovery in NAND flash controller demand.”