Why investor eyes are returning to Europe

Move towards more value- and cyclically-oriented stocks

This year has begun with turbulent markets and an equity decline led by US growth-oriented names.

Whether it marks a bigger shift away from the innovative, high growth, tech names - which have dominated equity market performance in the last decade - remains to be seen. The growth in this segment of the market has been driven by some truly innovative business successes, which have changed the way we live, work, shop and communicate. But the stunning outperformance of a concentrated group of companies has led many to question when this strong run will slow down and whether valuations in other areas of the market are due a catch-up. In this relatively recent, but prolonged, period...