David Liddell

If value makes a comeback, these are the investment trusts to buy

One of the defining characteristics of the investment world since the financial crisis of 2008/09 has been the underperformance of value investing as a style. There has been much academic work suggesting that over the long term a value approach – in simple terms buying companies where the prices are cheap relative to fundamentals – usually pays off. But in the past 10 years this has emphatically not been the case.

How to play China

Fear and panic over China are contrarian indicators, but the two dedicated China-focused trusts take very different approaches.