Markets have started 2023 strongly as some of the headwinds that dominated markets in 2022 have started to dissipate. Combined, this has caused market consensus to lower the probability of a synchronized global recession in 2023. That said, although the outlook has improved versus last year, we are still likely to see volatility in equity markets as they continue to react to differing macroeconomic and earnings data points. However, with value offering a combination of defensive and cyclical attributes, we believe the style is well positioned to negotiate shifting market scenarios. Access this article and learn about how:

• The market backdrop for value investing remains favorable, with both near‐ and long‐term factors providing support, but volatility could return
• An active value approach can help negotiate shifting market dynamics to target cyclical opportunities and provide more defensive positions when volatility rises
• Indicators suggest that equity markets may be returning to earnings as the main driver of equity performance
• Positioning for flexibility may increase success liklihood
• A dynamic portfolio can help you capitalize on opportunities