Top managers and investment experts give their views on a sector which has ridden the wave of panic among investors.
Virginie Maisonneuve Head of global and international equities, Schroders Defensive sectors do look expensive compared to their cyclical peers. Over the past 12 months, stable growth has outperformed by 18%, while cyclical growth has underperformed by over 4%. Looking at forward growth and valuation from a global perspective, defensive sectors are trading at above average multiples and most cyclical sectors are trading below. Since ECB president Mario Draghi buoyed investor sentiment with the promise of supportive measures in the eurozone, many have felt maintaining an overly defe...
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