JPM's Gregson sees deep value in resources after 'torturous' year

Last year was a "long and torturous" one for investors, but there is now deep value in the heavily sold-off resources sectors, said J.P. Morgan's Neil Gregson.

The manager of the £2.2bn Natural Resources fund and £4m Global Mining fund said there are several good reasons to be looking at these “beaten up” stocks, especially gold shares, at this point. “It was a long and torturous year last year, but that is coming to an end. At the start of the year the general consensus was for an ongoing recovery in the US and Europe and slower growth in China, and equities were pricing that in. But of course through the year the Europe situation blew up, there were concerns about the Chinese property market, and there was the US debt issue,” he said. “200...