- Excess returns for Value managers was much higher at 6.10% over the past year compared to -1.56% pa over 5 years.
- During COVID 19 stressed period, the median Value manager was not able to deliver positive skill-based alpha.
- Key biases of Value managers include- Anti- Momentum, conservative Asset Growth, anti-Quality, pro-Value, pro EM, pro-USD.
- Value managers have dedicated 30% of their active risk budget towards stock selection over the past year.
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