Due to a sustained period of underperformance, investors are increasingly questioning the validity of factor investing. Georg Elsaesser, Portfolio Manager Quantitative Investment at Invesco, has a simple explanation for the underperformance, and is not worried, yet.
‘The value factor and small-caps in particular have done badly, but that can be explained by the market environment. All factors are still doing what they are supposed to do,' says Elsaesser.
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