It might be time to consider the ‘most hated, under-owned asset class,’ says this strategist

Vincent Deluard, a market strategist at StoneX, has pointed to British equities as a potentially overlooked opportunity, describing them as the "most hated, under-owned asset class." His view rests on the gap between market sentiment and valuation: when an asset class is widely avoided, prices may already reflect a great deal of pessimism, which can matter for investors assessing long-term return potential.

Deluard pairs the idea with a currency trade that shorts the euro against the Japanese yen. The pairing is notable because it combines exposure to one market with a separate currency view, rather than treating the equity idea in isolation. That structure suggests the thesis depends partly on relative currency moves, not just on UK company fundamentals.

For observers, the takeaway is less a signal to act than a reminder of how sentiment, ownership levels and currency dynamics can interact. What to watch: whether UK equity valuations continue to lag other markets, and how euro-yen exchange-rate shifts develop.