We usually think of momentum investors as the people who pile on to stocks that are already hot, hoping to catch the rest of their run, but low momentum stocks (that have been growing slowly) outperformed in April while typical momentum traders took a beating as market corrections punished many stocks that had been gaining over the last year.
“Against expectations, Low 12m Price Momentum was our best performing style in the developed markets, beating the benchmark by 1.9% in April 2014,” write UBS analysts Simon Iley, David...