Research
Perritt Research Paper – Deja vu All Over Again: Serial Correlation and Micro-Cap Equities
Perritt White Paper – The Micro-Cap Advantage: How MicroCap Equities Help Enhance Return and Lower Correlation in Client Portfolios
Click here for Perritt Capital Management Founder Dr. Gerald W. Perritt's white paper on The Micro-Cap Advantage.
Active Microcap: A Liquid, Transparent Private Equity Alternative – Acuitas Investments
Less-Liquid Holdings Could Mean More-Solid Results – Morningstar Advisor Magazine
Click here for 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 – Fidelity Investments
Click here for 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 Study – Impact of Illiquid Securities
Click here for 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.
Small Cap as an Alternative to Private Equity – The Brandes Institute
Click here for a study by The Brandes Institute demonstrating how small cap equity can offer investors a viable alternative to private equity. Is U.S. Small Cap a Viable Alternative to U.S. Private Equity? Bruce Grantier, The Brandes Institute, April, 2009.
MicroCaps + Informational Inefficiency = Active Opportunities – The Journal of Indexes
Click here for 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. MicroCaps + Informational Inefficiency Active Opportunities. Steve Swartley, The Journal of Indexes, July/August 2010.
Mutual fund investing involves risk. Principal loss is possible. The Funds invest in smaller companies, which involve additional risks such as limited liquidity and greater volatility. The Funds invest in micro cap companies which tend to perform poorly during times of economic stress. The Ultra MicroCap Fund may invest in early stage companies which tend to be more volatile and somewhat more speculative than investments in more established companies.
A correlation coefficient is a measure of the interdependence of two random variables that ranges in value from -1 to +1, indicating perfect negative correlation at -1, absence of correlation at zero, and perfect positive correlation at +1.
The Perritt Funds are distributed by Quasar Distributors, LLC.