BNY Mellon Long-Term Global Equity shrugs off vaccine-inspired value rally as 'short-term headwind'

Structural headwinds needed for long-term growth, manager adds

Mike Sheen
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News of recent vaccine breakthroughs saw MSCI World index return 11.4% in a record-breaking November stock rally
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News of recent vaccine breakthroughs saw MSCI World index return 11.4% in a record-breaking November stock rally

Any market shift in favour of value stocks is a short-term concern for growth investors, according to Walter Scott client investment manager Murdo MacLean, who said "structural tailwinds" will continue to benefit stocks within the BNY Mellon boutique's growth-focused Long-Term Global Equity fund over the next market cycle.

Reports of successful vaccine developments last month saw market commentators once again eyeing a return to favour for value investing, with the MSCI World Value index bucking the trend of the last decade...

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