Core Insights - Spheria Global Opportunities Fund reported a return of -3.0% in Q4 2025, underperforming the MSCI World Small Cap Accumulation Index (Net Return) AUD, which returned 2.2% [1] - The fund's December performance was -1.5%, lagging the index by -0.7% [1] - The fund highlighted strong performance in the Healthcare and Materials sectors, while Consumer Staples and Consumer Discretionary sectors were weak [1] - The UK region underperformed by approximately 2%, while other regions showed aligned results [1] - Small caps have not closed the value gap that emerged before the interest rate cycle began in early 2022 [1] Company Highlights - Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a financial technology company providing solutions and payment processing services for community banks and credit unions [2] - As of March 10, 2026, Jack Henry & Associates, Inc. stock closed at $171.02 per share, with a one-month return of 3.24% and a decline of 1.22% over the past twelve months [2] - The market capitalization of Jack Henry & Associates, Inc. is $12.378 billion [2] - In Q4 2025, Jack Henry & Associates, Inc. contributed positively to the fund's performance with a return of +22% [3]