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By Jacob de TUSCH-LEC, manager of the Artemis Funds (Lux) Global Equity Income fund
Throughout the age of austerity, disinflation and growth stocks were 'in'; inflation and value stocks were 'out'. Last November, however, things began to change. The rotation away from the stocks that have been the winners over the past half-decade and into the laggards (energy, materials) may still be in its infancy – but some of the moves have been dramatic.
Might this be the point at which the hitherto successful strategy of being long tech, growth, momentum disruption and growth – and of being short of 'value', emerging markets and Europe begins to go into reverse?
2021: Back to the 'real world?
2021...
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