Editor's letter - Back from summer holidays

European equity and small-cap fared best

This coming Saturday (11 September) marks St Leger’s Day – the last leg of the British Triple Crown horse races in Doncaster which, historically, was associated with the time of the year that city slickers returned to London after their summer holidays.

For investors, St Leger's Day is of course synonymous with the old adage "sell in May, go away, come again St Leger's Day", which loosely refers to selling up investments during the quiet summer months and buying back in again later in the year. Anybody who has been investing for longer than two years will know this can hardly be adhered to as a hard and fast rule, but would it have worked out for investors this year? Investment Week digital edition - 6 September 2021 Since the beginning of May to time of writing (2 September), the MSCI ACWI and World indices have returned 7% and 8...