The latest factsheets show an improvement in the short-term performance for both funds, which had fallen into the fourth quartile.
Their contrarian investment approach, which invests against the consensus view of markets, went against them in the aftermath of the credit crunch.
The balanced growth fund has jumped into the second quartile over the last three months, producing a 3.4 per cent return which beats the sector average by 0.7 per cent.
The balanced income fund has edged into the third quartile over the same period with a 1.2 per cent return, 0.2 per cent below the sector average.
Midas Capital sees this as a step in the right direction but says it still has to make up lost ground as last year’s poor form damaged its long-term performance rankings.
Balanced growth fund manager Simon Edwards says that just as the funds were hurt on the way down by the positions they had taken, they have benefited from sharp increases in recent weeks.
Favouring corporate bonds relative to gilts is reaping rewards while some of the closed-ended funds held by Midas have taken steps to narrow their discounts through share buybacks.
Edwards says: “We held our nerve, doubled up on investments in many cases and bought value as we felt it would come right at some point.”