Value began outperforming growth long before the outcome of the Brexit vote or Donald Trump's US Election win and this is set to continue, according to John Bennett, Henderson's director of European equities, who is finding investment opportunities in European banks.
Bennett (pictured), who is also manager of the £267m Henderson European Focus trust, said the value style is back in favour, but most investors will enter Europe - which he believes is one of the key value markets in the world - far too late. He said: "In recent years when people bought Europe, they were not really buying Europe. They were buying high-quality global proxy stocks or bond proxies that happened to be based and listed in Europe. "It is easy to invest in Nestlé and other staples, but the air is getting thin so we are buying value. It is time to own the uncomfortable stuff....
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