Is there any value left in old economy emerging market stocks?
‘We see no fundamental justification for value stocks to be quite so unloved’
Since the announcement of the first Covid vaccines in November last year, there has been a surge in optimism that after a long spell of underperformance, value strategies might be set to return to the fore for investors.
It is well known that value funds have had a long struggle, underperforming their growth counterparts for the best part of the last decade. However, one region investors might not traditionally think to when it comes to value is emerging markets, but Ernest Yeung, manager of the T Rowe Price Emerging Markets Discovery Fund, predicts better times ahead for EM value investors.