Invesco Quantitative Strategies - CIO Update H1 2021
After an unprecedented year 2020, global economic activity broadly rebounded in the first half of 2021 as vaccination programmes accelerated and Covid-19 cases declined. Also, the factor environment has brightened significantly, both on a stand-alone factor basis as well as when combining factors to multi-factor strategies. Most prominently, Value has embarked on its long-awaited performance recovery. While still in its early days, in our view, multi-factor performances have benefitted greatly from the strong initial Value rebound. November 2020 has marked the starting point for investors turning towards cheaper valuations against the backdrop of conviction for a reopening and, hence, strengthening economy.
Risk warnings
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The value of investments and any income will fluctuate (this may partly be the result of exchange-rate fluctuations) and investors may not get back the full amount invested.
Important information
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Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice.
