Small cap managers now switching towards value

Henderson Investors has been reducing its exposure to the technology, media and telecoms in the small cap arena. Stephen Peak, European fund manager at Henderson Investors, says the group has been cutting the size of its overweight position as these areas are seeing a correction. The Dow Jones Europe Stoxx Technology index has fallen 25.25% in the period between 6 March and 5 April while the Dow Jones Europe Stoxx Telecoms index is down 27.6% over same time period. Hendersons is looking to take profits rather than sell out completely. Among the businesses where Peak has been trimming posi...