NEW YORK - The massive U.S. market rotation into value stocks over the last two weeks is finally giving value fund managers a reason to be hopeful after years of underperformance.
Yet portfolio managers from firms such as Hillman Funds, Artisan Partners and Eaton Vance say that they are taking the rally in value stocks - so called because they trade at cheaper valuations than the rapidly expanding companies in the growth stock category - to sell some of their best performers and move into companies that are further out of favor. The move is based on views that the market’s shift to value stocks will not last.
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