As the Covid vaccines receive UK regulatory approval, and with it the promise of a return to a somewhat normal life, this may be the signal that many investors have been waiting for to reallocate away from growth to value.

Over the last few years there have been many false dawns in the battle between value investing and growth investing that has led to many investors giving up on the idea that there will ever be a sustainable rotation from growth to value that persists. However, this feels totally different.