When one imagines the definitive “Trump Trade” one thinks of; cyclical businesses highly leveraged to the US domestic economy, high domestic tax rates which would benefit from reduced corporate tax and dollar earnings which will benefit from the rise in interest rates. Given that advertising spend is highly linked to GDP growth, Media companies make perfect candidates for the Trump Trade.
In an ever diversified and boundary free investment world, at Davy Asset Management it’s all about a quality approach.
The Davy Asset Management Global Equity Income Fund has produced strong returns over the past two years. This performance was driven by our investment process, which is focused on identifying high-quality companies that generate cash flow from their operations and pay dividends consistently through time.
In a year of astonishing surprises, November 2016 delivered perhaps the biggest: a Donald Trump victory in the US presidential election, followed by rallies in the dollar and global equity markets.
The Finance Act 2016 was signed into law on Christmas Day and introduced clarification primarily for Personal Retirement Savings Account (PRSA) investors as to exactly what happens when the PRSA holder attains age 75.
"Long-run prosperity was never in the gift of monetary policy makers. Consensus is growing that escaping this low-growth low-inflation trap will require a re-balancing between monetary, fiscal and structural policies." Mark Carney, Governor of the Bank of England, 22nd September 2016.
On 30th September 30th 2016, the Davy Defensive Equity Income Fund (the Fund) marked its fifth anniversary, a significant milestone.The Fund has provided downside protection with an impressive return of 52.7% over the past five years. The strong performance can be attributed to diligent and prudent management as well as a consistent application of our investment philosophy and process.
In this series of “Meet the Manager” Tim Kelly (TK), Business Development Associate Director at Davy Asset Management, interviews Jeremy Humphries (JH), Fund Manager on the Davy Discovery Fund (the Fund).
Healthcare reform has emerged as one of the main talking points in the upcoming US presidential elections. The campaign trail has been filled with election promises and criticisms of previous policies. In this article Brian Kennedy, a member of the Davy Asset Management Global Equity Investment team and co-manager on the Davy Ethical Equity Fund, outlines his view on potential healthcare reforms.
Equity markets continued their rollercoaster journey for investors in the second quarter of 2016 with the shock UK referendum result punctuating the quarter end. In the first half of 2016, the MSCI World Index had been particularly volatile, falling 5.0% in the first quarter, before rebounding by 3.6% in the second. It is now only off -1.6% year-to-date, in euro terms. This masks a dramatic 15.3% fall between January and February, which was subsequently offset by a deep value rally of 17.3% from February to the end of May.