Click here for a PDF version of the webcast presentation slides.
During the Global Innovators Fund Webcast, Portfolio Managers Dr. Ian Mortimer and Mr. Matthew Page discussed:
The fourth quarter was another strong quarter – MSCI World Index was up 5.62% (total return in USD) following positive returns in Q1, Q2, and Q3
IT, Materials, and Consumer Discretionary sectors lead the pack again, with Energy continuing its recovery alongside oil price rises.
Telcoms, Health Care, and Utilities noticeable underperformers
Changes made to the portfolio: we sold our position in Schlumberger and bought Anta Sports
During the quarter, top 5 performers were WisdomTree Investments, Intel Corp, Nike Inc, FANUC Corp, and Boeing
The bottom 5 performers were VeriFone Systems Inc, Check Point Software Technologies, Schlumberger, Schneider Electric SE, Cognizant Technology Solutions Corp
IT sector has outperformed MSCI World index since December 2010, with significant divergence in performance amongst tech industries.
Source: Guinness Atkinson Asset Management, Bloomberg (12.31.2017)
Holdings are subject to change.
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