Fund Manager, Nish Patel makes the case for global smaller companies as an alternative to the Mag 7

Smaller companies broadly matched larger companies in the month. The strongest performing sectors were basic materials, financials and telecommunications, whilst the laggards were healthcare, consumer staples and utilities.

November was a more volatile month for equities. Smaller companies still managed to deliver a modest return and outperformed larger companies in the month. The strongest performing sectors were healthcare, basic materials and consumer staples. The laggards were telecommunications, technology and consumer discretionary. Economic data points in Japan and the emerging markets were ahead of expectations whilst those in North America, the UK and Europe were behind according to the Citi economic surprise index.