The steep decline and subsequent rebound in the US stock market over the first three months of the year were a boon to US small cap managers, who took advantage of what some considered a short window of low prices to add shares in companies ranging from retailers to steel makers.
“We went on a buying spree,” said Chris Towle, co-manager of the Towle Deep Value fund, which is up 2.2% for the year to date, compared with a 3.7% decline in the benchmark Russell 2000.
