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SA mid-caps are not what they used to be


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As Perpetua Investment Managers CIO Delphine Govender pointed out, capturing growth in the mid-cap space is also an important source of alpha for the smaller managers who can invest there effectively.
Unrecognised growth
‘If you look at larger managers like Allan Gray, Coronation and Prudential, when they were in their more exponential alpha generation phase, it absolutely came from placing the right bets on which mid-caps were going to become large caps,’ said Govender, who co-manages the Perpetua SCI Equity fund. ....

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