Disclaimer: Views in this blog do not promote, and are not directly connected to any Legal & General Investment Management (LGIM) product or service. Views are from a range of LGIM investment professionals and do not necessarily reflect the views of LGIM. For investment professionals only.

Has momentum lost its mojo?

Here's a warning tale about why we think factors can fail if there's a big change in market dynamics.

Historically it has often paid to buy into assets that have already performed well recently. That has led to investors deliberately targeting momentum as a source of return. But in currencies, it's gone terribly wrong in recent years.