Jupiter's Maarten Slendebroek
Active fund managers must rise to the challenge of a rotation into FTSE 100 stocks after years of outperformance, wealth managers have warned.
Mid-cap stocks have suffered a harsh and indiscriminate sell-off in recent weeks, and managers have pointed to liquidity concerns as a possible trigger for the falls.
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It is a short-term trend, but a notable one nonetheless: some of last year's biggest equity market gainers have seen sizeable pullbacks in recent weeks.
Another day of losses yesterday has left the UK's main mid-cap index down almost 7% since the start of March - underperforming both large and small caps as warnings on valuations made at the start of the year ring true.