FTSE 100 yield pick-up prompts mid-cap pull-out

The FTSE 100 was yielding more than the Mid 250 for the first time in more than seven years, prompti...

The FTSE 100 was yielding more than the Mid 250 for the first time in more than seven years, prompting Newton's Clive Beagles to reduce mid-cap exposure. Ashton Bradbury, small and mid-cap manager at Old Mutual, was also recommending advisers switch their allocation on the asset class to a neutral stance, believing mid-caps would not outperform blue chips. Discounts on smaller companies had narrowed down to the mid-teens rather than the 30%-40% typically seen on the asset class.