The recent strength in equity markets has created wide valuation disparities, resulting in an excellent environment for active fund managers. Small- and mid-cap stocks continue to trade at a substantial discount compared with their large-cap peers, highlighting a segment of the market that offers investors a rich opportunity set.
By Jordan Zinberg, President & CEO, Bedford Park Capital
We’ve seen the persistence during 2023 of two ongoing themes: 1) Canadian stock indices lagging substantially behind their U.S. peers and 2) small- and mid-cap stocks on both sides of the border underperforming large-cap stocks. Given our fund’s focus on Canadian small- and mid-cap equities, I’m pleased to report that both of these trends reversed in the first quarter of 2024.
Notably, one of our other key takeaways from the first quarter was a significant increase in volume among the small- and mid-cap stocks that we follow.
The Bedford Park…
