Not so Magnificent Seven: Private banks turn to small caps amid volatility

Private bank clients in Asia are increasingly turning to US small cap equities as they seek to diversify their portfolios away from the ‘Magnificent Seven’ that have driven gains in the world’s biggest stock market in recent years. That is according to Vincent Nichols, investment specialist, US and thematic equity at BNP Paribas Asset Management (BNP Paribas AM), who pointed…

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