The year 2023 saw significant stock market gains worldwide, but for anyone investing in European Small/Micro-cap, an invitation to the party was notably absent. Why bother trying to identify winners from thousands of small-cap stocks when you can simply invest in a few of the largest, best-known companies globally and achieve better returns?
News
2024, the year of the small caps?
Little followed by analysts and little known by investors, European small caps are undervalued, despite their superior growth prospects. And while the last two years have hardly been kind to them, now seems a particularly good time to enter this market.
Small & Mid caps: Beware of complacency
Despite some optimism among market participants, the macroeconomic environment remains rather weak and growth is set to slow in 2024. The big question is whether this will be a soft landing or a harder one. Caution therefore seems to be the order of the day in the first half of the year, even if price falls will provide opportunities to add to positions.
European small caps: The catalysts for a trend change are finally here!
While (almost) all equity markets benefited in 2023 from a major upward movement that often took them to record levels, the small end of the capitalisation spectrum suffered. In fact, European blue chips were up 16% in 2023, mid caps were up 10% and small caps were up 8%, while micro caps fell by 7%!
WEBINAR | Negotiating a difficult macro environment in European SMID cap equities
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The Argonaut Fund Scrapbook
To celebrate the 20th anniversary of our Argonaut fund in style, we have put together a scrapbook album that sums up 20 years of adventures in the jungle of European microcaps, with a few key dates, facts and figures, anecdotes from company visits or trips, and some good and not-so-good memories.
Argonaut Fund marks 20th anniversary of investment in small and micro-caps
In this interview on Proactive, Philip Best and Marc Saint John Webb tell us all about the Argonaut fund, on the occasion of its 20th anniversary.
20 years of investing in European microcaps: What has changed?
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Small is really beautiful
Small caps are virtually unavoidable in a diversified equity strategy as they now represent just over 11% of global market capitalisation (see chart below).
MSCI World AC: Small caps weighting in the index
A tailor-made ESG strategy
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