The tailwinds bringing UK value back in fashion: How vaccines and Brexit create the trade of the decade

In the first two years after the low of 21 January 2016, EM earned 80%. The RAFI EM fund - with a deep value tilt - fared even better with a gain of 85%. In late 2020, as Brexit negotiations broke down (again and again) and a more virulent form of Covid-19 emerged in the UK, UK stocks (notably UK value) reached extraordinarily cheap levels. We are comfortable calling these market segments a new trade of the decade. Changes to takeovers and a more restrictive approach to foreign direct investment: What's the impact on UK businesses? The massive economic shock of the Covid-19 pand...