Active Microcap: A Private Equity Alternative, a white paper by Acuitas Investments demonstrating why actively managed Microcap strategies are a reasonable liquid proxy for private equity.
Less-Liquid Holdings Could Mean More-Solid Results, an analysis by Roger Ibbotson and Morningstar Research indicating that investing in less-liquid stocks produces risk-adjusted returns that rival or exceed those of the three best-known market anomalies: size, value, and momentum.
The Truth About Small Caps and Rising Rates, a research paper by Fidelity Investments which finds that small caps equities have historically performed well in rising rate environments, both in absolute terms and relative to large caps.
Ibbotson Finds Liquidity Rules, a Financial Advisor Magazine feature of a working paper by Roger Ibbotson and Zhiwu Chen demonstrating the positive historical impact of illiquid securities on investor returns.
Is U.S. Small Cap a Viable Alternative to U.S. Private Equity? Bruce Grantier, The Brandes Institute, April, 2009; a study by The Brandes Institute demonstrating how small cap equity can offer investors a viable alternative to private equity.
MicroCaps + Informational Inefficiency Active Opportunities. Steve Swartley, The Journal of Indexes, July/August 2010, a white paper by The Journal of Indexes demonstrating the potential advantage micro-cap investors can gain from the informational inefficiency of the micro cap asset class.
