Chatfeild-Roberts: Mid-caps' 'considerable reversal' set to continue

The 'considerable reversal' in the fortunes of mid- and small-cap stocks seen since the start of March is likely to continue as large caps come back into favour, according to Jupiter's John Chatfeild-Roberts.

Speaking on Friday, the head of the Merlin multi-manager team (pictured) suggested the long-term outperformance of these "expensive" parts of the market may be coming to an end. The comments came after a sharp sell-off in some of the winners of recent years, with the runaway FTSE 250 index having shed more than 5% since the start of March compared with a slight gain for the FTSE 100. "The [FTSE} 250 and Small Cap indices are really quite expensive these days. This tells you you are going to get a considerable reversal," Chatfeild-Roberts said. "It started at the start of March, and...