{"id":780,"date":"2018-06-06T11:22:48","date_gmt":"2018-06-06T09:22:48","guid":{"rendered":"http:\/\/hear-ir.com\/?p=780"},"modified":"2023-12-20T20:59:11","modified_gmt":"2023-12-20T19:59:11","slug":"uk-stocks-cheapest-world-says-asset-manager","status":"publish","type":"post","link":"https:\/\/hear-ir.com\/it\/uk-stocks-cheapest-world-says-asset-manager\/","title":{"rendered":"UK stocks \u2018cheapest in the world,\u2019 says asset manager"},"content":{"rendered":"
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Value opportunity tied up with Brexit and threat of change in government<\/div>\n<\/div>\n<\/div>\n
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Fears over Brexit and the prospect of a Jeremy Corbyn-led Labour government have made UK stocks the \u2018cheapest in the world,\u2019 according to the UK asset manager River and Mercantile\u2019s Hugh Sergeant.<\/p>\n

Investors have shunned UK stocks since the country voted to leave the European Union says Sergeant, with more than \u00a31.8 bn ($2.4 bn) flowing from the IA UK All Companies sector in 2017 alone.<\/p>\n

Concerns are also growing that an \u2018anti-business\u2019 Labour government could have disastrous effects on both the stock market and the UK\u2019s economy.<\/p>\n

Sergeant, manager of the \u00a3263 mn River and Mercantile UK Equity Long Term Recovery Fund, says these two factors have made the UK stock market attractively valued compared to other major indices.<\/p>\n

He notes on average, versus shares globally, UK shares are nearly as cheap now as they were during the financial crisis, when stock markets crashed \u2013 and are significantly below their late 1990s peak.<\/p>\n

\u2018The UK has rarely been this cheap and after recent Brexit and Corbyn fears, it now leads the rest of the globe in terms of value for money,\u2019 says Sergeant in a company statement.<\/p>\n

\u2018A lot of this value opportunity<\/strong> is tied up with Brexit and the associated threat of a change in government. Like consensus, we have been cautious since the original Brexit vote.<\/p>\n

\u2018But where we stand today is that these uncertainties are now largely discounted, that the policy uncertainty is reducing, that consumer sentiment is bottoming out and, perhaps most importantly, that the UK equity market is global in nature as is the source of its revenue and profits.\u2019<\/p>\n

Sergeant adds that the long-term value UK equities have historically delivered \u2013 thanks to the combination of both returns and dividends \u2013 made it the most attractive equity market globally.<\/p>\n

\u2018As the Barclays Equity Gilt<\/strong> Study for 2018 reminds us, UK equities have generated a real compound return of 5.1 percent per annum over a 118-year period that has on average been as eventful as the last couple of years. So buying our domestic market as cheaply as it is today should be a good idea if you have a medium-term time frame,\u2019 says Sergeant.<\/p>\n

River and Mercantile\u2019s UK Recovery Fund \u2013 which has returned 92 percent over the last five years versus the Investment Association\u2019s UK All Companies sector average return of 49 percent \u2013 is overweight \u00a0mining stocks and banks, among other sectors, on the view that they represent some of the best value opportunities currently.<\/p>\n

Conversely, the fund is underweight \u2018defensive\u2019 sectors, in particular utility, telecoms and consumer staples companies.<\/p>\n

Banking is a key area where Sergeant thinks investors can find value, and the fund has positions in HSBC, Lloyds, Standard Chartered and Barclays.<\/p>\n

He says: \u2018Banks are lowly valued around the world, have strong balance sheets, generate lots of free capital, are shareholder value focused and, in a number of cases, are able to grow again after many years of restructuring.\u2019<\/p>\n

Source: https:\/\/www.irmagazine.com\/shareholder-targeting-id\/uk-stocks-cheapest-world-says-asset-manager<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Value opportunity tied up with Brexit and threat of change in government Fears over Brexit and the prospect of a Jeremy Corbyn-led Labour government have made UK stocks the \u2018cheapest in the world,\u2019 according to the UK asset manager River and Mercantile\u2019s Hugh Sergeant. Investors have shunned UK stocks since the country voted to leave […]<\/p>\n","protected":false},"author":1,"featured_media":781,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,8],"tags":[33,34,35,32,20],"class_list":["post-780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-7","category-senza-categoria","tag-barclays-equity-gilt","tag-brexit","tag-equity-long-term-recovery-fund","tag-stocks","tag-value-opportunity"],"yoast_head":"\nUK stocks \u2018cheapest in the world,\u2019 says asset manager - Hear-ir<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hear-ir.com\/it\/uk-stocks-cheapest-world-says-asset-manager\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK stocks \u2018cheapest in the world,\u2019 says asset manager - Hear-ir\" \/>\n<meta property=\"og:description\" content=\"Value opportunity tied up with Brexit and threat of change in government Fears over Brexit and the prospect of a Jeremy Corbyn-led Labour government have made UK stocks the \u2018cheapest in the world,\u2019 according to the UK asset manager River and Mercantile\u2019s Hugh Sergeant. 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