US

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.

Global economic cycle is among the longest in history

Red flags

The current bull market in US equities began in March 2009. The decade that followed has seen US equities rally by 300%. The early years were dominated by concerns about fiscal and monetary policy on the one hand, and the sub-par growth on the other....

Which funds stole the show?

Effective end of June

Cutting costs - and political legacies - dominating the US

Global macroeconomic indicators have undoubtedly become softer, as the US nears full employment and Europe's manufacturing sector continues to suffer from the effects of weaker trade with China.

And which are the laggards?

Fears of a full-blown trade war and slowing economic growth appear at odds with the progress being made by companies around the world.