Dan Kemp, the CIO of Morningstar’s EMEA division, sees opportunity for value investors and disagrees with the consensus that the coronavirus crisis favors growth strategies, according to a recent article in FTAdviser.

“When you look at the UK market,” Kemp said, “It is priced very attractively compared to other equity markets.” He added that while it is difficult to predict what will happen regarding the political climate or central bank actions, history proves that share prices will eventually revert to “fair value.” He argued, “The low prices we are seeing at the moment mean the more powerful that will be.”

Kemp contends that traditional value investing is not dead: “I would take the contrarian view and say that I have seldom seen as good of an opportunity for value investing,” adding, “we are seeing an enormous stretch in valuations between the most and least popular stocks.”

“Rather than it being the death of value,” Kemp said, “I’m very excited about the future of that style of investing because we are starting from such a stretched position.”