Chris White, manager of Premier Income fund and Premier Monthly Income fund, argues the large-cap elephants may not gallop, but they do have their uses.
The common refrain from fund managers at the moment is ‘the market is too expensive, I cannot find anything to buy’. Many areas of the UK stockmarket have seen strong rises over the past 18 months as investors have seen the attractions of equities, and the strongest rises have been seen in the mid- and small-cap arena. However, something strange is happening. Since 21 October, the large-cap stocks in the UK are outperforming. A similar pattern is repeated in the US, with the S&P 100 outperforming the S&P 500 and the Russell 2000 Small Cap index. In fact, some of the best value opportu...
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