Small- and mid-cap stocks performed dismally over the past five years, but analysts say they remain a valid investment that could help unearth the next local unicorn stock, the best example of which could be Capitec.

The JSE small-cap index slumped 31% since the beginning of 2015 while the mid-cap index fell 11.4%. By contrast, the JSE top 40 rallied 19.4%, a respectable performance, given SA’s dismal economic performance in that  time. ..

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