Is value investing set to come back into fashion? That seems to be one of the findings in the November 2019 Bank of America Merrill Lynch Global Fund Manager Survey.
More than half of respondents to the survey (52%) said that equities will be the best-performing asset class in 2020, followed by commodities and cash. Global growth optimism has jumped the most in 20 years to an 18-month high, further suggesting that demand for equities might increase.
Since the Brexit vote in 2016, there has been a marked divergence in the performance of the FTSE 100 and the Samp;P 500. If you think the UK and sterling will both recover then valuations today might be an opportunity.
There are some cheap, high-quality UK small and mid caps out there just waiting for a wave of institutional money.
In a world where sustained quantitative easing has led to massive amounts of poorly allocated capital, global growth could continue to struggle. But away from the large-caps and huge, loss-making IPOs, retail investors can find winning companies with competitive moats that can keep growing even when the rest of the world is sluggish.
Here’s how I’m currently screening for, valuing and…
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