ECP | Luxemburg, 29.05.2020
It may have gone unnoticed with many investors: value has actually started to perform better than growth recently. In Europe, MSCI Europe Value showed almost double the performance of MSCI Europe Growth over the last 2 weeks, that is 9.03% against 4.6%. In the US, we see the same picture with Russell Value being up 9.4% against 4.2% for Russell Growth since the 15th of May.
It is clear 2 weeks of better performance for value investors do not make up for the lost performance since the financial crisis. It is also clear that 9 trading sessions are not enough to identify a pattern of a sustained recovery in value as there have been false dawns before.
Mit freundlichen Grüssen aus Luxembourg
Léon Kirch, CIO & Partner
