2021 Midyear Outlook: Navigating through the recovery
Listen in as we discuss our outlook on the US recovery and the Federal Reserve’s new framework, including its impact on inflation, interest rates and growth.
No matter the market environment, our core focus is building a portfolio that has the potential to generate a total return through current income, income growth, and opportunities for capital appreciation.
Emerging markets have come a long way from their boom-and-bust commodity cycle of the 1990’s. Today’s emerging markets are leapfrogging several developed markets in terms of innovative technology and growth opportunities.
From 2013 to 2015, we faced headwinds as a low interest rate environment challenged our pro-quality investment approach and rewarded companies that piled on debt. Once again, we are experiencing a low interest rate environment; however, this time the Fund has performed well. What’s different this time?
Last year, investors had to choose between quality and growth. When forced to pick, we chose quality every time. Get our views on the current environment.
In an unpredictable 2020, the lesson learned was to maintain the Fund’s core stock selection discipline. We believe the market ultimately rewards small caps that can deliver sales and earnings growth and returns on capital.