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...Its five-year annualised return of 2.8 per cent trails almost all mid-cap growth and technology funds over the same span....
...India’s market regulator also stepped in to calm heated activity in smaller stocks, after both the S&P BSE small-cap and mid-cap indices rose 60 per cent in the past year....
...“This follows a period in which many of our core investment strategies . . . have been out of favour, impacting both performance and flows,” he added, pointing to its growth, small and mid-cap, and broader...
...Of the almost $1.7tn invested in dedicated small and mid-cap funds globally, nearly $1.3tn of it is invested solely in the US, according to Morningstar....
...In Vanguard’s FTSE Global All Cap Index Fund (which I hold within my own Isa), the UK exposure is below 4 per cent, with the US making up nearly 62 per cent....
...But this strategy was wrongfooted in February, when the China deployed state-run funds and financial institutions — the so-called “national team” — to buy exchange traded funds that tracked large cap stocks...
...Few investors regarded a highly leveraged mid-cap European retailer such as Douglas as a must-own stock....
...For Jill Carey Hall, US equity strategist and head of US small and mid-cap strategy at Bank of America, the lower valuations of small-caps bode well for returns....
...The market caps of the two US banks started to diverge in 2020, the year in which Morgan Stanley announced a pair of deals that crystallised for investors then-chief executive James Gorman’s strategy to...
...You want to get income and risk mitigation yet still need exposure to the mega cap growth stocks that have been leading the market higher,” he added....
...BlackRock said in a statement that “since the underlying securities in DYNF are large-cap US equities, and some of the most liquid stocks in the market, liquidity was not a challenge when the fund was added...
...Cap Equity UCITs ETF (BBSD) for small caps....
...But it said Wood’s share price was struggling under the “UK mid-cap curse”. UK stocks have not kept up with the valuations of US peers, causing frustration among executives and investors....
...Georgina Brittain, manager of the JPMorgan UK Small Cap Growth & Income trust, notes that in the past, mid-caps have traded at a premium to the FTSE 100 as they are considered more nimble and faster growing...
...“These actions are part of our regular review of our pricing strategy to reflect continued growth in iShares ETFs and our ability to leverage our scale to benefit clients,” BlackRock said....
...[Zoom] That’s all in spite of hedge funds being net sellers of mega-caps over the fourth quarter....
...The Quoted Companies Alliance, based on a survey of 220 companies, said this had resulted in a huge jump in audit costs for small- and mid-cap companies....
...According to Morningstar, in the year to June 2023, 27 per cent of actively managed global large-cap equity funds beat the equivalent passive fund. Over a 15-year timeframe, only 3 per cent have....
...The month-to-date performance isn’t quite that bad, but for manilla and growth funds it’s still well below the 2022 level....
...HSBC prefers domestically focused mid-cap stocks, such as the FTSE 250, which are better placed to benefit from cooling inflation and low unemployment in the UK, said Stanford....
...Finally, M&A is an obvious catalyst to help push up European valuations, especially for mid and small caps....
...For example, the MSCI world large cap index has outperformed the MSCI world mid-cap index by almost five percentage points a year over the past five years....
...(Zoomable version) Cboe’s Mandy Xu (previously head of equity derivatives strategy at Credit Suisse) also concedes that the growth in derivatives-based income funds has been “jaw-dropping”....
...“In a decade where value and small caps have underperformed compared to growth and large caps, this difference in strategy is pivotal.”...
...“When we look at where the growth is coming from, a vast majority of the assets are net new to Capital Group,” she says. “They are not coming from our mutual fund line-up....
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