Ali Unwin, Manager of the Neptune US Opportunities Fund
Making America Great Again? Donald Trump has presided over a strong market – or a continued “big fat ugly bubble” in his own parlance – characterised by low volatility and steady top and bottom line growth in most sectors. The market has climbed a ‘wall of worry’ as concerns about political risk, potential trade wars and an impending rate rise cycle abounded. Car sales weakness, auto finance overextension, retail closures and an overbuilt US mall environment all contributed to modest pullbacks as the S&P 500 grinded up through the eighth year of its bull run…
Neptune funds may have a high historic volatility rating and past performance is not a guide to future performance. The value of an investment and any income from it can fall as well as rise as a result of market and currency fluctuations and your clients may not get back the original amount invested. Please remember that forecasts are not a guide of future performance. A majority of the investments made by the Fund may be in securities of small and medium sized companies. Such securities may involve a higher degree of risk than would be the case for securities of larger companies. The content of this document is formed from Neptune’s views as at the date of issue. We do not undertake to advise you as to any change of our views. Neptune does not give investment advice and only provides information on Neptune products. Please refer to the Fund’s prospectus for further details.