British Empire manager: Number of 'catalyst events' can unlock value for investors

Trust currently trading on a 13% discount

Asset Value Investors' Joe Bauernfreund said his £608m British Empire trust has faced significant headwinds over the past few years as growth has outperformed value, but this trend may now be reversing.

Bauernfreund (pictured), who co-managed the trust alongside John Pennink since 2012 before taking full responsibility in October 2015, said the last eight years have been the longest-running stretch of growth outperforming value over the past four decades. He said: "This period has been one which has presented us with a headwind to our performance but may be in the process of changing. "We will see some of the big companies which have outperformed so strongly - for example, FANG (Facebook, Amazon, Netflix, Google) - start to de-rate and give up ground for other assets." The British...