From upcoming U.S. midterm elections to ongoing deregulation, four small-cap specialists discuss what they believe many investors are not considering -- but should be.
Trade war talk has unleashed a wave of volatility that may be best surfed by looking at small-cap cyclical stocks.
Royce co-CIO Francis Gannon explores why ongoing earnings strength for small-cap cyclicals is bolstering confidence in the sector.
As the state of growth becomes harder to gauge, small-cap fundamentals are likely to matter more and more.
History suggests that small-cap stocks may have more room to run, but some companies appear better positioned to lead than others.
Chart of the Week
Chart courtesy of ClearBridge Investments. Source: Bloomberg, as of 5/31/19. Returns are cumulative and based on price movement only, and do not include the reinvestment of dividends. +101% for S&P 500 measures 10/09/02-10/12/2007 and +218% for MSCI ACWI ex-U.S. measures 3/12/03-10/31/07. Past performance is no guarantee of future results. Indexes are unmanaged, and not available for direct investment. Index returns do not include fees or sales charges. This information is provided for illustrative purposes only and does not reflect the performance of an actual investment.
Chart of the Week
China’s latest tariffs focus on U.S. agricultural exports; financial markets are pricing in at least one Fed rate cut this year; U.S. consumers’ debt load reached $13.67 trillion, with student debt outstripping auto loans.
What a return to more normal conditions in terms of volatility, returns, and interest rates means for the small-cap market.
The case for a strategic allocation to international small cap is well supported by historical data.
What does recent volatility tell us about where we are in the small-cap cycle?
After a historically strong first quarter, what’s ahead for small-cap leadership?
Recent small-cap performance may have more to do with investors’ moods than fundamentals
Royce sees ample opportunities in the wake of one of small-cap’s most challenging quarters in 40 years.
Much Ado About the Midterms? Royce managers offer their insights about the investment implications on small-cap stocks.
Surveying the small cap landscape after a period of strong gain, Royce co-CIO Francis Gannon is selectively bullish -- but generally wary of the considerable risks for growth stocks and defensive industries.
During the first six months of 2018, small-cap stocks enjoyed the good times bred by a bull market that at this writing has not yet slowed down.
Despite a wild finish, the second quarter was still markedly more bullish and less volatile than the first—and saw a shift in small-cap style leadership that we’ll be watching closely.
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