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Despite signs of risk reversal in Europe at the end of 2013 with periphery underperforming core, cyclical sectors losing leadership and Eurozone equities no longer outperforming the US market, the next 12 months are likely to be another positive year for European equities and value stocks, ING Investment Management International (ING IM) says. Nicolas Simar, Head of the Equity Value Boutique at ING IM: “Over the last five years, quality has been given a growth premium and non-cyclicals have seen their weight increased within the growth style. The breakdown of sectors differences between ‘value’ and ‘growth’ clearly highlights the dominance of food and beverage, healthcare and personal and household goods in the growth style those days. These are non-cyclical industries with low and...
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