UK mid caps no longer offering investors value

Fund managers believe the mid-cap area of the UK market is fully priced following sharp gains since the March lows. Over the period 9 March to 25 July, the FTSE 250 index gained 36.85%, compared to the FTSE 100, which has grown by 22.22%. The FTSE Small Cap index, meanwhile, is up 35.57%. Mark Hall, manager of the BWD Aggressive fund, believes the broader mid-cap area of the market has run out of steam. 'A few months ago, I could look at that part of the market and find stocks I felt were 20%-25% too cheap,' he said. 'Now, it is a far greater struggle to find that kind of valuation ...