Have we reached the top of the market for UK mid-cap stocks?

The bull run in UK mid caps could be coming to an end, with multi-managers starting to sell down top-performing funds in the sector and growth fears threatening consumer facing names.

The FTSE 250 has been one of the best global equity markets over the past year, returning 17%, well ahead of the FTSE 100’s 1.86% rise and a 1.8% gain from the FTSE 350. Eight out of the nine UK mid-cap funds in the IMA UK All Companies sector have delivered top decile performance over the past year, against an average 22% return from the peer group. Neptune UK Mid Cap, for example, returned 48.8%, Franklin UK Mid Cap delivered 37%, and Schroder UK Mid 250 posted a gain of 35.6% over the year to 5 October, according to Morningstar.  Their strong run has led a number of multi-manage...