Artemis' Stuart backs small caps

Special Situations manager moving from large to small cap for first time in two years

Artemis Special Situations manager Derek Stuart has bought into small caps for the first time in two years. Speaking at the Investment Week Senate Spring Investment Conference, Stuart says for years he and the team were reducing their small-cap exposure in the £691.4m fund, moving up the cap scale. Now, he and co-manager Ruth Keattch have started trimming their large-cap position, saying this might reduce as low as 40% by the end of the year. "It was 60%, now we are 55%. It is being pushed smaller already, and might go to 50%, 45% or even 40% by the year end." Stuart has moved into ...