Henderson's John Bennett on why it pays to be patient in Europe

Can you describe your investment strategy? The fund blends top-down sector decisions with bottom-up stock selection. The strategy emphasises decisive deviation from benchmark index weightings but with an investment horizon that gives ideas the scope to come to fruition. At the heart of the strategy is a belief in long wave mean reversion. We believe it applies to everything: valuation, profitability, GDP, life. What would you say to investors avoiding European equity funds? The so-called ‘Old Continent' offers outstanding, global businesses often trading at a discount to non-European...