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'Now is the time to buy small-caps'
By Lydia Chen |
September 6, 2011, Tuesday
|
Print Edition
Print Edition
DESPITE declines in global stock markets, investment manager Royce & Associates believes this is an opportunity to top up portfolios, with US small-caps looking particularly attractive.
William Hench, portfolio manager at Royce & Associates, said: "Indiscriminate selling is allowing us to re-enter some of our favorite names at attractive absolute valuations."
While market declines are causing short-term pain to many investors, such corrections present an opportunity for stock-picking, especially for longer-term investors, according to Hench.
Royce has been adding to existing holdings, especially in what it sees as turnaround sectors, where price-to-book and price-to-sales valuations are most attractive.
Hench said technology plays, such as those that produce and sell capacitors and basic chips, would be ideal as they will be little affected by macro-concerns such as further quantitative easing.
William Hench, portfolio manager at Royce & Associates, said: "Indiscriminate selling is allowing us to re-enter some of our favorite names at attractive absolute valuations."
While market declines are causing short-term pain to many investors, such corrections present an opportunity for stock-picking, especially for longer-term investors, according to Hench.
Royce has been adding to existing holdings, especially in what it sees as turnaround sectors, where price-to-book and price-to-sales valuations are most attractive.
Hench said technology plays, such as those that produce and sell capacitors and basic chips, would be ideal as they will be little affected by macro-concerns such as further quantitative easing.
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