ECP | Luxemburg, 13.03.2020
Low valuation has till now not provided capital protection in the recent market turmoil, as value has done worse than growth. The MSCI Europe Value total net return index is down 25.7% from the peak of the market on February 19th up to Wednesday this week while the MSCI Europe Growth index lost “only” 20.4%. Since the beginning of the year, value underperformed growth by 9.3%!
Mit freundlichen Grüssen aus Luxembourg
Léon Kirch, CIO & Partner
