Value-driven funds motor as Fed, ECB fuel risk assets rally


Stuart Powers
Value-based long/short equity funds are racking up increasingly impressive numbers for the year after a generally bullish summer period in which markets have risen steadily on the strength of highly supportive central bank monetary policies.

With the Fed and the ECB both unleashing major new stimulus programmes this month, the rally in risk assets kicked up another gear in the first half of September after buoyant performance in global equity markets through most of June, July and August.

Many value-focused equity managers have made hay in an environment where there has been increasing dispersion between