Why mid-cap bull run still has legs

MID CAPS

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UK mid-cap stocks enjoyed a strong rally in 2012, outperforming large-cap peers in the FTSE 100, but OMAM's Richard Watts says 2013 could see similar returns.

UK mid-cap equities were among the stronger asset classes in 2012. This was not obvious as the year began and it is curious to think back on how much has changed and how quickly. If the past year taught us anything, it was the need to manage for the unexpected. If ever a period was ‘macro-driven’, the winter of 2011/2012 was it. Mario Draghi, who is probably the individual most responsible for dispelling euro-paranoia, was only confirmed in the role of president of the European Central Bank in June 2011 and only took office on 1 November. He rapidly transformed into ‘Super Mario’. ...

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