Letter to Shareholders Value Equity Q4 2014

“Valuation is the key and we continue to work thoroughly to keep the portfolio invested in the companies that we believe are among the most discounted out there today.”

In their latest Letter to Shareholders, Sparinvest’s Value Equities team review the performance of the Value Equities strategy during 2014 – a year in which the oil price collapsed, Europhobia returned and US blue-chips were ‘bullet-proof’.

Read the Letter to Shareholders here.