Wagner sees opportunities in US small and mid caps

US small and mid cap equities remain attractively valued on an historical basis, despite sharp gains since March, says T. Rowe Price's David Wagner.

The firm's US small- and mid-cap equity strategy portfolio manager says they also remain attractively valued against other asset classes. "With the flexibility of a broad range of investments, across a large opportunity set, the asset class offers opportunities to achieve future capital gains," says Wagner. He also says all the long term- fundamental reasons for investing remain intact. "With historical evidence of the outperformance of the asset class when an inflection point in the economy has been reached, we believe these distinctive characteristics offer a compelling risk/retu...