Daniel Ben-Ami looks at how smaller companies are adapting to the economic and political landscape
The performance of US small and medium-sized companies has been boosted by an expectation of lower taxes and lighter regulation under President Trump
Smaller companies are crucial to the success of the European economy. However, the way they are nurtured by investors and governments varies dramatically
Joseph Mariathasan finds that the UK economy has fared quite well since the Brexit vote, but smaller companies are vulnerable to any potential domestic slowdown
Successful investing in the UK’s smaller businesses requires adopting attitudes and techniques similar to those in private equity investing, according to Tony Dalwood
Data shows the sensitivity of the five largest US small and mid-cap equity funds and the five largest European small and mid-cap equity funds to changes in macroeconomic factors
Successfully investing in small and medium-sized companies involves getting to know the intricacies of how relatively simple businesses work
Led by technology and healthcare, the US small-cap sector is the most dynamic in the world but some companies are becoming overvalued
Offering better outperformance than large-caps and more robust than small-caps, mid-caps are particularly attractive
We map the obstacles in the way of a unified approach to corporate governance in a Europe characterised by a north/south divide in small and mid-caps
The liisted small-cap and mid-cap market could be a better place for investors to start when considering a move into private equity
Central bank policies are heading for divergent paths. Joseph Mariathasan looks into the likely impact on small and mid-sized stocks, where valuations are already exhibiting marked differentiation
Germany’s Mittelstand shows why mom-and-pop shops, despite the risks, can create superior success from local networks and a longer-term view of their businesses. Joseph Mariathasan investigates
While the Swedish stock market in general can be rather volatile, this goes to an even greater extent for Swedish small-caps. But as Caroline Liinanki finds, for those able to handle the short-term market movements investing in smaller Swedish companies has been a very profitable move
Rummaging through successful small-caps portfolios reveals a diversity of opportunity, finds Martin Steward. This diversity enables portfolio managers to express very well-defined styles in their portfolio risk
Brandes Investment Partners has been managing global small caps since 1997. “It’s a big pond with a lot of fish but very few anglers,” as director of investments Luiz Sauerbronn puts it.
The M&A theme tends to be big in small-caps: these companies are growing, often via their own acquisitions; and becoming assets coveted by both LBO from below and large-caps from above. Our featured strategies feel its effects as both a blessing and a curse.
The current reforms risk repeating some of the mistakes of the Riester plan. Devolving responsibility to social partners for creating new sector schemes risks passing the buck
Times have changed since the Society for the German Language chose Alternativlos (without alternative) as its Unwort (literally ‘unword’ or ugliest word) of the year for 2010
The review of the UK’s asset management market by the FCA may or may not result in tighter regulation of investment advice. But the regulator would do well to continue focusing on investment consulting firms that offer fiduciary management services
This spring marks 20 years since the first issue of IPE. Our founders Piers Diacre and Fennell Betson started this publication with an assumption that funded pension systems would become more widespread in time, leading to increased diversification and a need for clear, well-researched and well-presented information.
Norway’s Government Pension Fund Global (GPFG), arguably the world’s most watched institutional investor, is considering adopting a risk-factor approach.
Registered users are entitled to the first digital issue of IPE with the compliments of the IPE.com team.
Three pension funds - BNL BNP Paribas, Heidelberg Cement and Istituto di Previdenza del Cantone Ticino - share insights on working with consultants
Mark Fawcett, the CIO of NEST, tells Carlo Svaluto Moreolo what the future holds for the UK’s fast-growing defined contribution scheme
Asset management is one of the few areas of business where, so far at least, the Chinese have made little global impact. No Chinese firm was even in the top 100 in the 2016 IPE rankings
Three pension funds - Industriens Pension, Migros Pensionskasse and SPMS – explain their approach to managing geopolitical risks
Robin Ellison, chairman of Carillion Pension Trustees, tells Carlo Svaluto Moreolo about the scheme’s approach to de-risking and regulation