April through to June was another strong quarter for the 60 guru-inspired investment strategies tracked by Stockopedia. Followers of Paul Scott and Graham Neary, who write our daily small-cap reports, will know that many growth stocks have been flying for months. And that’s exactly what we’ve seen in our screens modelled on the legends of finance: small-cap growth has been in a sweet spot. But there have also been winners right across the strategy styles.
As expected, the second quarter carried on the trends we saw earlier this year. Growth lead the pack, but Income, Value and Momentum strategies all held up well, while Quality still lagged.
Index valuations stalled and drifted lower in June, which meant it was a flat quarter for the market. There are various possible reasons for that. It could be the market’s just taking a breather as we head into what are usually the quietest months of the year. Certainly Paul has mentioned that those growth stocks that fail to keep up the pace with their earnings forecasts are being punished severely. So it’s clear that there are concerns about stretched valuations in some places.
Index / Strategy CompositeQ2 2017 Performance12 Months Performance
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