Liontrust MA Quarter In Review Q3-2022 15.11.22 (Spreads) - Flipbook - Page 14
Large versus small-cap equities
Japan Smaller Companies bucks broader down-trend
Equity classes were down across the board except for Japan Smaller
Companies, which benefited from the country’s still low interest rates.
Smaller companies in Europe and the UK underperformed their large
cap domestic peers, but they fell the furthest overall in the UK, where
risk levels rose sharply on fears about recession and financial stability
following the mini Budget delivered by the new government.
Equity returns Q3 2022
4%
1.7%
2%
0%
-2%
-1.6%
-2.7%
-2.9%
-4%
-3.9%
-5.0%
-6%
-8%
-8.0%
-9.2%
-10%
UK Equities
UK Smaller
North American
North American
Companies
Equities
Smaller Companies
Source: Morningstar, 30.09.22.
14 - Liontrust Multi-Asset Funds and Portfolios Quarterly Report: Q3 2022
European Equities
European Smaller
Companies
Japan Equities
Japanese Smaller
Companies
