The performance of “value” equities through the COVID-19 pandemic has increased questions over the relevance of the value factor in building robust equity portfolios. Not only has the poor performance in 2020 come on the back of a protracted period of underperformance stretching back over a decade, but value also failed to provide protection in a falling market. So what does this mean for value going forward? Is there still a strategic, long-term case for value?
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