Portfolio construction all too often appears as an after-thought for many active managers yet it is ultimately critical in determining the investment returns and volatility of returns for investor in the underlying portfolio.
Software companies often attract high valuations at least at face value but if you drill down deeper you soon discover the real value of business with sustainable moats that can reinvest at high rates of return.
Emerging markets are thriving on global economic growth. The Fidelity Global Emerging Markets Fund gives investors access to some of the world's fastest growing economies with sensible and sustainable investments for the longer term.
In the first of a series of articles, Jeremy Podger reviews the areas that have led global equities in recent times. He assesses whether these trends are showing signs of fading and looks back at past “mega-trends” for an insight into what could happen next.
Our belief is that companies exist within an ecosystem, and understanding that ecosystem gives us the best chance of making accurate judgement around its future earnings trajectory. However, with the fast pace of technological disruption changing the ecosystem in every industry, the work of a long-term investor has become more difficult.
Politicians don’t always follow the route of logic which makes it difficult to predict how they could play out. One thing is for sure if the rhetoric accelerates it won’t be good news for large multinationals.