Unlike many other market participants, we do not see a general value rally in the near term. To us, there still remains a lot of value traps, writes Jeremy Lang, manager of the Ardevora UK Income fund.
Despite £1.5bn outflows from asset class
The implications of the surprise leave result in the EU referendum continues to reverberate around the markets. The leave campaign's assertion that there will be no economic disruption from a Brexit is being tested.
Active fund pricing falling
Concern over prospects for FTSE 250 after referendum
$14bn also pulled from global equity ETFs after vote
Trades on rplan.co.uk platform up 175% in days after vote
Dividend cuts have been a prominent story for the UK equity income sector over the past 12 months, albeit from fairly high levels in some instances.