Schroders: Value Opportunities have Dried Up in the US

Schroders value investor Nick Kirrage says that of 500 new global stock opportunities his team recently reviewed, only 2 US companies made the grade

Emma Wall 24 November, 2017 | 12:53AM
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Bull statue on Wall Street New York

“Value opportunities have dried up in the US,” admits Schroders fund manager Nick Kirrage. “There is an extraordinary difference between stock valuations in the US and Japan. We have done extremely well in US stocks; pharmaceuticals, tech stocks… but now even the smaller companies are overvalued.”

Kirrage, who runs several value-orientated portfolios for Schroders, including the Silver Rated Recovery fund, says that in the past he has been able to use the breadth of the US market – an investable universe of around 4,000 companies – to find bargains. But now he struggles.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating Inc3,376.07 USD0.00Rating
Facebook Inc A315.81 USD0.00Rating
Schroder MM Diversity Z Acc1.20 GBP0.08Rating
Schroder Recovery Z Acc1.28 GBP-0.08Rating

About Author

Emma Wall  is former Senior International Editor for Morningstar