Fund managers who snagged a rare stake in Elon Musk’s giant space business are nursing heavy losses from July, but their fortunes appear to be turning.

For the 28,000-plus Australian mum and dad punters, there hasn’t been much joy or excitement in the return on their investment.

Fund managers who snagged a rare stake in Elon Musk’s giant space business are nursing heavy losses from July, but their fortunes appear to be turning.