Fund manager White Brook Capital announced results that outperformed the S&P 500 in Q1. The fund’s NAV increased by 2.98 percent in the quarter, compared to a decline of 4.6 percent of the S&P 500, with the investments in the materials sector driving results.

With the on-going macroeconomic turbulence, the fund sees opportunities for investment in midcap stocks which have underperformed recently.

Basil Alsikafi, portfolio manager at White Brook, said: “Midcap stocks have underperformed and are set to outperform - the opportunity in middle capitalisation stocks continues to be significant and I continue to be a proponent of increasing exposure.”

Mr Alsikafi added: “Recent improvements in the relative performance of midcaps may be a harbinger of more. The increase in interest rates and lessening of support for the economy, most taken advantage of by large cap stocks may also be a harbinger of things to come.”