Average rate hit nearly 1.5% in May
In the first half of 2019, the uncertainty surrounding Federal Reserve policy and US-China trade negotiations affected the outlook for all asset classes including global small-cap stocks.
The London IPO market has been subdued since the second half of 2018, as a result of increased market volatility.
How has the world changed since 2016?
Since the downturn at the close of 2018, US equities have rebounded with smaller caps up over 16% and outpacing the returns of large caps.
Mixed fortunes for UK Smaller Companies and UK All Companies
With 55% of FTSE 100 dividends forecast to come from just ten companies in 2018, it is not surprising many UK equity income strategies are disproportionately invested in a relatively small number of large-cap stocks.