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Value outlook 2023

9 min read 26 Jan 23

By Richard Halle
  • Value outperformed the broader market in 2022 – with valuation spreads still wide, we believe value has further to go.
  • The fund captured the value tailwind and delivered its best ever annual return relative to its benchmark.
  • We see a wide range of opportunities across the market, particularly in the energy and consumer discretionary sectors.
  • Despite some challenges in Europe, we think we can construct a diversified portfolio that combines attractive valuation
    characteristics with decent fundamentals.

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Learn more about the fund

By Richard Halle

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.

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The value of the fund's assets will go down as well as up. This will cause the value of your investment to fall as well as rise and you may get back less than you originally invested.

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