In 2020, value funds gave investors a sound category average return of 15.1 per cent. The last time these funds had rewarded investors richly was in 2017, when they had given a category average return of 41.6 per cent. The next two years, 2018 (minus 9.6 per cent) and 2019 (1.8 per cent), were disappointing.
However, investors who kept the faith have been rewarded this year. Market preference shifting Over the past three-four years, growth had got concentrated in a few stocks. As interest rates fell, the limited stocks that could offer growth got rerated to very high levels. In ...
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