All Small cap articles
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White papersIndex investing has flaws. Institutional investors can do better.
Imagine receiving this pitch: “I have an investment strategy for you. It aims to provide a rough representation of the market. It is mostly rules-based, with some exceptions. We have no say in what we buy or sell. We outsource these decisions to another entity. They will tell everyone what ...
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White papersFrom AI ecosystems to industrial strength: The case for US small caps
The period spanning the second half of 2025 and the first half of 2026 marked a watershed moment for smaller US companies, as they outperformed their larger counterparts by some margin – putting the asset class firmly back on the map for investors.
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White papersGerman reforms: what do they mean for European equities?
The reform plus fiscal package is genuinely large and potentially a regime change, but not yet an unqualified “buy Germany/Europe” signal. The principal upside risk is a confidence-led private capex cycle. The key downside risk is implementation failures and higher bond yields, which could turn a productive investment programme into a less equity-friendly fiscal expansion.
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White papersLooking beyond mega-caps
AI-focused capital flows are reshaping private markets, concentrating capital, and creating consensus exposure. We believe this dynamic has contributed to a growing divide between large-and mega-cap (predominantly) AI companies and perhaps overlooked small- and mid-cap opportunities often found in sectors outside of AI.
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White papersFrom invention to investment: The case for UK venture capital
Britain is one of the world’s great originators of ideas, yet too many of its most promising companies have had to look abroad for the capital to grow. Institutional investors have a rare chance to fund the next stage of that growth story and capture compelling long-run return streams.
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White papersA record quarter for equities
“Diversification* is paramount as investors start to move away from overcrowded areas, taking profits and making room for new IPOs.”
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VideoAre small caps set for a U-turn?
After an earnings recession, small caps’ fortune is set for a positive pivot.
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White papersWhy private equity matters: The case for PE
Most portfolios are built around public markets, but most U.S. businesses are privately held and only accessible through private equity. In the latest edition of “The Lead,” Churchill Asset Management’s Randy Schwimmer makes a compelling case for why private equity deserves a place in private wealth portfolios, from its potential to reduce volatility to its historically stronger returns over full market cycles. Explore the full newsletter to see what the opportunity looks like.
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White papersThe convergence of public and private markets – a three-part full-picture perspective
Companies and issuers now operate in a capital landscape where public and private markets are continually intersecting. Across equity and debt, the traditional paradigms are breaking down, with participants more actively evaluating a range of financing options. We believe that the primary driver for this change is access to a much larger toolkit, requiring a more nuanced decision matrix. This involves weighing not only the cost of capital, but also considerations of flexibility, governance, and long-term strategic needs, among many other factors.
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White papersWhy positive surprise matters in small-cap growth
In small-cap growth, returns are driven less by current earnings and more by shifts in long-term expectations. Because valuations hinge on those expectations, when a company delivers results or provides signals that exceed consensus expectations, even small upward revisions can have an outsized impact on both earnings and valuations. For investors, recognizing these inflections early is critical in a segment where markets often underreact.
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PodcastEuropean small caps offer income and growth
European small cap stocks have outperformed their large cap peers so far this year. Among the drivers of better performance are their exposure to industrial onshoring trends, the tailwind from merger and acquisition activity on cheaper valuations, and the opportunity to ride on the infrastructure spending wave.
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White papersFundamentals First: The Case for Broadening Out
We believe an improving corporate fundamentals picture across the entire market-cap spectrum can support the broadening out trade; the median stock in the Russell 3000 Index has now posted eight consecutive quarters of improving EPS growth, climbing from a sub -10% trough in 4Q’23 to over +20% in 1Q’26.
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White papersPositive surprise: Recognizing change before consensus
A positive surprise occurs when a company delivers results or provides signals that meaningfully exceed consensus expectations, thereby raising the market’s view of its sustainable growth rate. In small-cap growth, where valuations are largely driven by long-term growth assumptions embedded in discounted cash flow valuation models, such surprises can have an outsized impact on both earnings expectations and valuations.
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PodcastAI: Transforming quantitative portfolio management
Artificial intelligence and machine learning are contributing increasingly to the process of identifying stock investment opportunities and managing portfolio risk, particularly when it comes to quantitative equity strategies that use mathematical models, algorithms and vast datasets to identify and capture the best ideas.
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Interview“Small and mid-caps are better suited to an impact strategy”
Triodos Investment Management and STOXX recently launched the iSTOXX Triodos Developed Markets Mid and Small Cap Impact Index, a custom-built index derived from the iSTOXX Triodos Developed Markets Impact All Cap Index. Dimitri Willems, portfolio manager of the Triodos Pioneer Impact strategy, and Ronald Waals, Business Development Manager Institutional, explain the added value of this index and why small and mid-cap companies offer great impact potential.
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PodcastUS small caps – Reasons to be cheerful
US small-cap stocks had a strong start to 2026 with the Russell 2000 index significantly outperforming the S&P 500 large cap. Geoff Dailey, Head of US Equities, tells Daniel Morris, Chief Market Strategist, that the main driver was the artificial intelligence theme. The AI infrastructure boom has helped semiconductors, tech and hardware engineering names, while rapid product development in agentic AI pressured software stocks.
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White papersMacro Outlook Q2: Best ideas across asset classes
From equities and fixed income to real estate and infrastructure, knowing where to find value in today’s market takes more than a broad view. It takes conviction. Nuveen’s investment leaders share their best ideas across asset classes, offering a grounded, practical look at where they see the most compelling opportunities right now. Explore the full section to see where we’re putting our highest conviction to work.
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InsightThe overlooked role of small and mid-caps in impact investing
In the dynamic landscape of impact investing, small and mid-cap companies can be powerful engines of positive change. While large-caps often dominate both headlines and portfolios, investors seeking tangible impact alongside competitive returns should take a closer look at the opportunities presented by smaller listed firms. In a recent episode of our podcast series Inside Impact Investing, we discussed how allocating capital to these companies can help drive societal progress while also contributing to financial performance.
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White papersDefining the lower mid-market: the benefits of a more focused approaching private equity
We believe private equity’s lower mid-market is rich with opportunity, yet it remains inconsistently defined. Investors exploring the segment in search of improved returns are faced with varying interpretations of what the lower mid market encompasses.
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White papersThe AI boom: Bubble risk or durable cycle?
Examines whether today’s AI-driven market rally reflects sustainable productivity gains or speculative excess.
