M&G (Lux) European Strategic Value Fund - Did value just miss the cycle?

27/03/2019

Investment styles go in and out of fashion, but ‘value investing’, which focuses on finding bargains among the cheapest stocks in the market, has remained unpopular for most of the past decade.

  • The value style has experienced a challenging time over the past decade, even as the eurozone economy recovered.
  • There are plenty of cheap stocks in Europe, but we worry that many are ‘value traps’ – cheap for a reason, particularly banks, telecoms and utilities.
  • Given the wide valuation gap between the cheapest and the most expensive stocks in the market, we think value stocks look attractive on a risk/reward basis.

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The value of the fund's assets will go down as well as up. This will cause the value of your investment to fall as well as rise and you may get back less than you originally invested.