Small Cap Update
April 14, 2020
Small Cap and Value Stocks Out of Favor in Market Dislocation
The rapid market sell off in the second half of the quarter has left value and small cap stocks priced as if a more severe environment is looming while large cap companies have not seen the same adjustments. While the markets have reacted to ongoing flow of public health and economic news, the positioning of the Glenmede Small Cap Equity Strategy remains true to its value orientation with its holdings trading at a discount to the Russell 2000 index in expectation of an ultimate mean reversion. Hear more from Portfolio Manager Jordan Irving in this review of first quarter performance.