European equity rush prompts 'indiscriminate mad scramble' - S.W. Mitchell

SWMC Small Cap European fund manager Jamie Carter has taken his gross market exposure to a record high in the view smaller companies are being overlooked by investors in the "mad scramble" to buy European equities.

Carter said the asset class is throwing up a plethora of ideas which he claimed have been "left behind" by rising European markets as investors react to the European Central Bank's stimulus package. The manager has increased his gross market exposure to 131% and his net exposure to 78%, both record highs since the fund's inception in 2007, in order to take advantage of the opportunities he sees. The MSCI Europe Small Cap index shed -6.5% over the year to 28 February, compared with a 2.9% drop for the MSCI Europe over the same period. However, over the past three months the small-ca...