'Value' stocks are resurgent, lifting the funds that back them The turnaround in stock markets as lockdowns ease, lifting the shares of companies hit hardest by the pandemic, has sent funds that were languishing at the bottom of the performance charts last year surging to the top of the table. The rebound in the shares of “value” companies, such as high street retailers, banks and leisure and hospitality firms, follows prolonged poor performance and heavy falls last year. Funds that back them racked up losses for their investors and trailed rivals in 2020 but have now sprung into life. Among funds investing in British stocks, 60 which were among the bottom 25pc performers last year are now in the top 25pc for 2021.