NEW YORK: The S&P 400 Mid-Cap index has surged to its best start to a year since 1991, both rewarding fund managers and forcing them to work harder to seek out bargains in a group that is now the most expensive part of the U.S. market based on their historical averages.
"The window for the big bargain bin was the fourth quarter and that was about it," said Kevin Preloger, a portfolio manager of the US$3.3 billion Janus Henderson Mid Cap Value fund."We're looking for companies that have good balance sheets and good cash flow, but the tough part is reasonable valuations."
"Energy is very out of favor and there's a perception that it's a risky business because oil prices are likely to be low for a long period of time because of the market share war between OPEC and the U.S.," he said."But we see low volatility of demand and more discipline on the supply side."
الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين
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