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Value stocks on the way up: AllianceBernstein
Value stocks will continue their path to recovery, global asset manager AllianceBernstein said today.
It said a key feature of equity markets last year was that company fundamentals were clearly rewarded by investors for the first time in years.
Also, macroeconomic fears no longer engulfed sentiment, something that was reflected in AllianceBernstein's own value strategies.
"Our research had been calling for a recovery in value stocks before headwinds to the style began to abate in mid-2012," said Kevin Simms, CIO of International Value Equities.
"Performance since then has been good news for investors. The even better news is, we think this opportunity still has a long way to run."
According to Mercer's investment fund performance survey, AllianceBernstein's global value strategies performed well during the year. Global Strategic Value was ranked in the top decile, returning 57.76 per cent.
Global Value returned 55.14 per cent and Global Diversified Value returned 55.06 per cent in Australian dollars before fees.
"Clearly, some risks to the markets remain, but we see signs of economic and corporate resilience as creating promising conditions for research-driven value stock picking in 2014," Simms said.
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
73.88 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
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