Scott, along with Professor Paul Marsh, compiles the Numis Indices and has a unique data-driven insight into tracking the small-cap effect in the UK market. 

While the compilation of indices is a backwards-looking exercise, over time, variations in performance and relative value can offer real insights, particularly when overlaid with knowledge of macroeconomic events.

In this conversation, Scott explains the background to the indices, the importance of the Numis Smaller Companies Index, what we learnt from the performance of 2022 and how the market’s shape and value have changed as we move into 2023.