Letter to Shareholders Value Equity Q2 2015

Q2 was rather downbeat after the peaks of Q1. However, Sparinvest’s Value Equities team finds plenty to be positive about – including an outstanding reporting season for European companies, interest rate developments that should be benign to the value strategy, and an increase in value-enhancing transactions – especially in Japan.
“We expect Europe and Japan to be the two regions that provide the funds with ample returns going forward, albeit with the risk of some short-term volatility caused by the Greek situation.”

Read the Letter to Shareholders here.