A Little (More) Conversation on US SMID
Less than 24 hours after AP called the outcome of the 2024 US Presidential Race, Fiera Capital convened its inaugural US small-to-mid-cap equities roundtable for investors in Europe. The event was the first in a series, since the Fiera Apex US Small-Mid Cap Growth Strategy (c. USD$5.8bn AUM) was made available to professional investors on the continent in July of this year.
With all eyes on the election outcome, Rick Nino, Senior Advisor and host of the roundtable, was quick to set the result in a ‘purple’ context. “Election years tend to be more favourable for US equities at-large,” he said. “And undoubtedly, foreign policy shifts factor into top-down analysis.” But, as it was put, “strategies with solid batting averages are often successful over the long-term because they deliver results in all seasons, wherever skilled stock pickers can exploit market inefficiencies.” This is a marketing communication.
Rick gave the floor to Matthew Navins, Client Portfolio Manager in the Apex team that manages the Fiera Apex US Small-Mid (SMID) Cap UCITS Fund. Originally based in Dayton Ohio, Matthew spoke to how the strategies’ locale has shaped its unique approach to market analysis, amidst the ‘core’ of commonly overlooked smaller and mid-sized companies in the US. “In Fiera, we saw growth and distribution,” he said. “At a global level, the company knows how to maximise the potential of highly differentiated investment strategies.”
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