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Nicolas Rabener (not verified)
9th October 2018 | 9:20am

Hi Martin, thank you for sharing your perspective. We were somewhat surprised that micro caps did not generate higher returns, even if with higher volatility.

We can also use external data to come to a similar conclusion as with our own data - eg the iShares Russell Microcap Index (IWC) generated lower returns with higher volatility than the S&P 500 since its inception in 2005. Do you have any views on this?