Half-year report: Which global markets offer the best value?

Liontrust AM's John Husselbee analyses which global markets are offering the best value as the first half of a volatile 2016 comes to a close.

'Buy low, sell high', the old adage goes. While this makes a lot of sense in theory, data shows the average fund investor in fact adopts entirely the opposite approach. Figures from the Investment Association show the likelihood of a fund being bought increases after good performance from its sector. This is, of course, counterintuitive to the opening statement above and demonstrates market timing is challenging. In fact, a different investment strategy would be wise, and the valuation approach seems to be more successful than others. As the end of a volatile first half of the year...