Value and momentum investing are two approaches to investing which havebeen increasingly utilised either overtly or covertly by fund managers. Consistent withtheir increasing popularity, a number of academic studies have found such strategiescapable of outperforming traditional benchmarks. The...

In a previous paper ('The Performance of Value and Momentum Investment:Portfolios: Recent Experience in the Major European Markets', Journal of AssetManagement, 4(4), 221-46, 2003), the authors found that simple value and momentuminvestment strategies achieved good performance when applied to...