Every month, LBP AM deciphers market news in video.
Nelly Davies, Portfolio Manager, Tocqueville Finance, shares her views on the opportunities offered by the "Small & Mid Cap" asset class in our
Understandably small & mid-caps have fallen out of favor with investors.
On one hand, the post-covid years essentially brought macro-economic worries - fears of recession, rising interest rates, geopolitical tensions - unfavorable to small caps, which are more domestic and cyclical than large caps. On the other, recurrent outflows from small-cap funds over the past 3 years have accentuated the trend. But small & mid-caps have been underperforming for an abnormally long time and scale compared with large caps. This, in our view, calls for a renewed focus on this historically value-creating asset class.
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