When the markets are as volatile as they were at the start of 2016, they can drag shares down to unimaginable lows. As the shares decline it is not at all uncommon to find investors panicking and hitting the sell button, compounding these declines even further.

There are two shares in particular which I feel have been dragged down to a level which makes them a great investment option now. These are Henderson Group plc (ASX: HGG) and Regis Healthcare Ltd (ASX: REG).

Henderson Group plc

Henderson Group is a UK-based global funds management business, which has seen its share price decline by a massive 28% so far in 2016. With over $177 billion of assets under management, as of December 31, it has become something of a global powerhouse since its spin off from AMP Limited (ASX: AMP).

Although the recent environment has not been a great one for funds management businesses, the recent drop in market volatility could lead to greater levels of fund inflows moving forward as investor confidence returns. This should help the company continue the strong growth of its bottom line.

At 13 times earnings I believe it is trading at a discount to the rest of the financial industry, which trades at an average price-to-earnings ratio of 14.8,.

With earnings expected to grow by 10% per annum through to 2018, according to CommSec, I believe there could be a good couple of years ahead now for its shareholders.

Regis Healthcare Ltd

Regis Healthcare is a provider of residential aged care services. Its shares are down around 12% year to date and I feel at this price they could be a great buy.

I believe that the growth ahead in aged care services is going to be incredibly strong with Australia’s growing and ageing population. At present the company has 5,088 places in operation throughout its 47 facilities, with plans to expand by 102 places by April 2016 through its Brownfield redevelopment.

The shares now trade at 22.5 times earnings, but with earnings expected by analysts to grow from 20.4 cents per share in 2016 to 26.9 cents per share in 2017, I  think you could justify paying a premium over the market average.

I also feel that at this price it becomes a better investment option than competitors Estia Health Ltd (ASX: EHE) and Japara Healthcare Ltd (ASX: JHC), which both trade just above 25 times earnings.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.