A fund manager advises against investing in Europe due to the low prices of its stocks.

• Peche of Ranmore Fund Management stated that Europe has lost favor among investors, who have been preoccupied with the U.S. election win, particularly the victory of Donald Trump.
• Peche stated to CNBC's Silvia Amaro that the euro may disintegrate, but it is unlikely. Additionally, the companies that we own are currently priced attractively.
• Peche is optimistic about mid-cap companies such as BNP Paribas, ABN Amro in Europe, and U.S. toymaker Mattel.

According to fund manager Sean Peche, investors should consider opportunities in the unloved region of Europe, where there are some "very attractively priced" companies.

Peche of Ranmore Fund Management informed CNBC's Silvia Amaro that Europe is no longer popular among investors, who are instead preoccupied with the U.S. election win of Donald Trump.

"While Europe has been facing difficulties, you've experienced a Trump euphoria," Peche said. "As a result, everyone has been rushing to invest in the U.S. However, chasing after the latest, most attractive opportunity is not typically a profitable strategy."

French President Emmanuel Macron named Francois Bayrou his new prime minister last week, dismissing investor concerns over France's political turmoil.

In June, Macron called for a snap election, resulting in no clear majority and causing political turmoil for several months.

"Perhaps the euro will collapse, but it probably won't. And the companies we own are undervalued," Peche said.

Peche found the stocks of French bank and Dutch investment bank ABN Amro to be very attractive, as the French bank has consistently grown its book value (net worth) and the Dutch bank has a 10.2% dividend yield.

In the U.K., the fund manager stated that stocks such as , which owns the retail giant Primark, were being overlooked by investors.

"Primark is performing exceptionally well. The business is diverse and has a top-notch management team. I won't wake up tomorrow to discover that the management team has made a blunder," he stated.

"The shares are attractively priced, and we are receiving a nice dividend. However, the buyback of shares is not in favor because it is a mid-cap stock listed in the U.K."

Eyes on the toymaker

Peche is optimistic about mid-cap companies in the U.S., including toy giants.

The toymaker, known for brands like Barbie and Hot Wheels, has expanded its product line beyond its traditional offerings.

Peche stated that Mattel's management team has successfully turned the business around, making debt manageable, and they have launched a $1 billion buyback.

Peche stated that the release of a new animated Barbie Netflix series in November and a second documentary series in September provides Mattel, currently valued at $6.2 billion, with "growth potential."

In 2023, the "Barbie" movie became the highest-grossing film worldwide, resulting in a significant increase in Barbie toy purchases. Mattel has also produced toys for successful films like "Moana" and "Wicked," but the latter faced issues and had to discontinue its line of character dolls due to a misprint that linked to a pornographic website.

In October, both Mattel and Hasbro lowered their end-of-year guidance as toy sales slid during the third quarter. Mattel expects sales for the last three months of the year to be "slightly down" from its prior guidance update.

— CNBC's Kristian Burt contributed to this report.