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By Jacob de TUSCH-LEC, Fund Manager, Artemis Investment Management
The rally in cyclical ‘value’ stocks paused for breath in February, as investors took a more cautious tone and switched their attention back to defensive areas. In this article, Jacob de Tusch-Lec, manager of the Artemis Global Equity Income Fund, explains how he has positioned the portfolio given the many economic, geopolitical, and policy risks that remain.
The powerful rally in cyclical ‘value’ stocks and financials seen in the second half of last year – and which carried over into January – paused for breath in February. Although global equity indices crept higher, the gains tended to be led by more defensive areas. In this, the equities seemed to be following the more cautious...
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