Videos: Webconferences

QEP Investment update

David Philpotts, Head of Research for the QEP Global Equities team, outlines the key drivers of global equities in recent years and discusses the prospects for markets going ahead.


David Philpotts

David Philpotts

Head of Research, QEP Investment Team

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After a very poor start to 2016, global equities have rallied strongly since mid-February and are now posting gains on the year. This switch in sentiment was largely thanks to the support offered by dovish central banks which has fueled a strong rally in risk assets whilst seemingly also capping the accent of the US dollar. Commodities and emerging markets have led the charge higher, marking a notable turnaround of their recent dire performance . Meanwhile, those stocks that entered the year on stretched valuations due to the extended momentum market of 2015 appear to be rolling over as the allure of growth at any price fades in the cold light of day. The key question now for global investors is whether the behavior of the past three months marks the start of a rotation in equity market leadership and, in particular, whether Value investing is now back in vogue after languishing on the sidelines for several years.

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