January 2018



Click here for a PDF version of the webcast presentation slides.

During the Dividend Builder Fund 4th Quarter webcast,  Portfolio Managers Dr. Ian Mortimer and Mr. Matthew Page discussed: 

  • Another strong quarter in 2017– MSCI World up 5.62% (total return in USD) – following positive returns in Q1, Q2, and Q3 
  • Regional quarterly performance broadly followed YTD trends with strong markets in Asia ex-Japan and Emerging Markets. However, Japan had strongest returns. 
  • IT, Materials, and Consumer Discretionary sectors leading the pack again, with Energy continuing its recovery alongside oil price rises.
  • Telcoms, Health Care, and Utilities noticeable underperformers
  • During the quarter, the top 5 performing stocks were: Wal-Mart Stores Inc, Hengan International Group Co Ltd, VF Corp, Microsoft Corp, Cisco Systems
  • During the fourth quarter, the bottom 5 performing stocks were: Merck & Co Inc, BAE Systems PLC, NEX Group PLC, Unilever PLC, Schneider Electric SE 
  • Changes made in the quarter:  bought Reckitt Benckiser and sold Coca-cola 


Holdings are subject to change.

For Investment Professional Use Only


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