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The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.
Past performance and current analysis do not guarantee future results.
As of December 31, 2020
*Based on the MSCI World Value Index and MSCI World Growth Index returns from January 2015 to December 2020. All index returns shown in US-dollar terms. Numbers may not sum due to rounding.
Source: FactSet, MSCI, S&P Compustat, Worldscope and AllianceBernstein (AB)
Past performance does not guarantee future results.
Through June 30, 2020
*Nominal US GDP growth
Source: FactSet, MSCI and AllianceBernstein (AB)
Analysis provided for illustrative purposes only and is subject to revision.
As of March 31, 2021
*Discount percentile based on the price-to-forward earnings ratio, return on forecast equity and net debt to equity of the MSCI World Value Index relative to the MSCI World Growth Index from January 1, 1997, through March 31, 2021.
Source: MSCI, S&P Compustat, Worldscope and AllianceBernstein (AB)
The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.
MSCI makes no express or implied warranties or representations, and shall have no liability whatsoever with respect to any MSCI data contained herein.
The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI.
Avi Lavi was appointed Chief Investment Officer of Global and International Value Equities in March 2016 and has also been Portfolio Manager for Global Research Insights since May 2016. He has been a member of the Cross Border team since early 2012. Previously, Lavi served as co-CIO of Global Value Equities (since July 2014) and global director of Value Research (since early 2012). From 2006 to 2012, he was CIO of UK and European Value Equities, and director of research for UK and European Value Equities from 2000 to 2006, during which time he helped establish AB’s first research operation based outside the US. Lavi joined the firm in 1996 as a research associate for utilities and expanded his coverage in 1998 to include oil and gas, covering these industries on a global basis. He subsequently became a senior analyst and sector leader for energy research. Lavi was previously an assistant controller at the State of Israel Economic Offices in New York. Prior to that, he was an accountant with Kesselman & Kesselman, PwC’s Israeli affiliate. Lavi holds a BA in accounting and economics from Bar-Ilan University in Israel and an MBA from New York University. Location: London
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