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It is a short-term trend, but a notable one nonetheless: some of last year's biggest equity market gainers have seen sizeable pullbacks in recent weeks.
Another day of losses yesterday has left the UK's main mid-cap index down almost 7% since the start of March - underperforming both large and small caps as warnings on valuations made at the start of the year ring true.
Philip Matthews has turned over almost half the holdings in the Schroder UK Alpha Plus fund since taking over the fund from Richard Buxton in October, Investment Week can reveal.
Liontrust managers Anthony Cross and Julian Fosh have said the ‘dash for trash' that characterised UK equity markets last year may be coming to an end.