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Vu(es) sur les marchés 11/2023
Small & Mid Cap : trends and opportunities
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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