Evenlode sees market rotation toward resilient stocks as momentum fades
SPY•Evenlode Investment Management said market flows are rotating toward resilient stocks as momentum fades. Portfolio companies reporting third-quarter results posted weighted average organic revenue growth of 6.5%, covering 61% of the portfolio; RELX and Accenture each reported 7% growth.
1. Growth across portfolio
Evenlode Investment Management highlighted a rotation toward resilient stocks in its October 30 market analysis, saying broad capital flows drove swings between AI-related stocks and other sectors. Portfolio companies generally met or exceeded operational expectations and generated strong cash flows, while trading at steep discounts to other market segments.
2. Business services
Business services remained resilient despite concerns about AI disruption, with RELX and Accenture each posting 7% organic revenue growth.
