Wes Johnston, Co-Portfolio Manager, Select Growth strategy at Sands Capital shares his take on the value rally in this question and answer session.

Volatility is not synonymous with risk. Distinguishing between the two is central to our efforts to add value over the long term.

To us, the concept of quality is linked to a company's ability to increase its market share at the expense of competitors, sell ever more value-adding goods and services, and expand its leadership in attractive business spaces through innovation and disruption.