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Small Cap Update

October 22, 2021

Glenmede Small Cap Equity Strategy outperforms benchmark in Q3

The Glenmede Small Cap Equity Strategy was up 0.6% (gross) in the quarter versus the Russell 2000 benchmark down 4.4%. Small cap growth was the leading detractor while small cap value outperformed. Investor concerns about possible Fed rate hikes and the pace of economic recovery led some investors to sell down small caps and return to the “safety: of large cap stocks.