Expetations increased across all three market capitalization categories during the month. Mid cap moved up to 119.8%Fv and remains the highest ahead of both smallcap at 115.5%Fv and largecap at 105.7%Fv. It is interesting that largecap has now moved above the 10% return year-to-date reaching 11.3% while smallcap returned to positive territory at 4.63%. Smallcap has struggled all year trying to post positive results, so this is a welcome occurrence. The smallcap category is inside the fair value trading range and should be able to move into higher return levels over the next 12 months.