Now is the most excited Premier Miton’s Nick Ford has ever been about buying into US small caps, according to the manager, given historically low valuations and our position in the current market cycle.
Ford, who has co-run the LF Miton US Opportunities fund alongside Hugh Grieves since 2013, said the duo has therefore initiated an overweight position to smaller companies in the portfolio for the first time in several years. He told Investment Week: "We had moved out of the sector a number of years ago because, historically, small caps do not perform well late cycle. The time to buy small caps historically has been in the middle of an economic downturn. "We are not economic forecasters, but it certainly looks as though we are going to have an instant recession in the US. We think the...
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