During the second quarter of 2018 Small Cap stocks generally outperformed. US economic and corporate profit growth remained strong during the quarter with consumer and business sentiment improving. On the other hand, early signs of a slowdown in global economic growth emerged. The increasing scope of potential trade tariffs helped to drive market fears due to their possible impact on global economic and corporate profit growth. The fear of trade wars caused many investors to be concerned about larger companies with global exposure, likely part of the reason smaller companies outperformed.
In the Saratoga Small Cap Portfolio, Health Care, Energy, and Consumer Staples sector selections outperformed.Financials, Industrials, and Materials underperformed.The Portfolio’s overweight to Financials and Industrials and underweight to Health Care hurt the relative performance.
Information contained herein was obtained from recognized statistical services and other sources believed to be reliable and we therefore cannot make any representation as to its completeness or accuracy. Any statements not of a factual nature constitute opinions which are subject to change without notice.
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