A value-oriented portfolio that
The Tortoise portfolio, which has a heavy weighting in retail stocks, outperformed the S&P 500 Index by 34%, whereas the Hare underperformed the S&P 500 by 5%.
As to whether value could continue delivering such strong returns, Mark Sellers, manager of the two portfolios said, "Its hard to make a prediction like that, but fund flows are still moving strongly towards value, so the momentum continues towards that area. However, on a relative basis, I must caution that many of the value funds out there dont really look like value funds because their holdings are not that cheap."