The case for active small-cap
Contrary to some investors’ perception, active small-cap managers actually have a strong relative performance record.
Co-CIO Francis Gannon discusses the ongoing consolidation in small-caps, while also touching on earnings, valuations, and the prospects of a pick-up in volatility.
Given the many risks specific to the small-cap sector, active managers like Royce's Bill Hench must constantly update their views on companies and markets.
Royce Co-CIO Francis Gannon looks at recent small-cap results and sees a consolidating asset class setting the stage for its next move up
Chart of the Week
Source: Bloomberg, 9/30/17. 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
The Fed looked toward a December hike as a more varied picture emerged; Catalonia chose to pause; China prepared for its 5-year People's Congress
CEO and CO-CIO Chris Clark and Director of Risk Management Gunjan Banati discuss the significance of incorporating Environmental, Social, and Governance Factors into Royce's investment process.
International small-caps have attractive attributes and active managers are well positioned to uncover the best that this underutilized asset class has to offer.
Portfolio Manager Chuck Royce and Co-CIO Francis Gannon see a consolidating asset class ready to make its next move up.
Will the recent run-up in the Russell 2000 hold? Co-CIO Francis Gannon examines the forces behind the latest rise.
It was a curious quarter for small-caps, with several key trends in 2016 reversing. Royce Co-CIO Francis Gannon analyzes the cross-currents, why they may be temporary, and why the small-cap rally has room to run.
Small cap stocks have far less sensitivity to interest rate moves than their large-cap cousins -- a quality worth considering given the Fed's plans to normalize rates further this year.
When good things are happening in the stock market, investors can be forgiven for forgetting about volatility.
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