Die besten Nordamerika Aktienfonds

Die Fondsmanager der besten Nordamerika Aktienfons haben exklusiv 6 Fragen zu ihrem Ausblick, den Konjunkturprogrammen, Gewichtungen in den Fonds, fundamentalen Faktoren und der Entwicklung der Realwirtschaft beantwortet.

e-fundresearch: "Wie ist Ihr aktueller Ausblick für Nordamerika Aktien?"

Portfoliomanagement Janus Capital Group, "Janus US Twenty A USD Acc" & "Janus US All Cap Growth A USD Acc" (11.03.2010): "As a bottom up fundamental manager we focus on our individual company research to drive security selection. We do not manage to a top down macro-economic or geographic view. That said, as we research companies around the world, we believe many of the best opportunities in the developed world are global businesses where revenues and profits are not dependant on home country economic growth."

Eric McLaughlin, Senior Investment Specialist, U.S. Equities, "Fortis L Equity Growth USA Cap" (11.03.2010): "In our view, a gradually improving global economy, coupled with the likelihood of some interest rate increases, should create an environment where equities and selected credit-sensitive fixed income securities outperform Treasuries and cash. For that to occur, necessary lynchpins would include healthy corporate profit growth, a peaking of US unemployment and a successful monetary management by central bankers. Economic growth in the United States and the rest of the developed world is likely to be above trend, but well below the typical recovery after a recession. We expect cyclical improvement to lead to a resumption of modest employment increases, but that a stubbornly high unemployment rate will persist. We hope and believe that inflation remains only a topic of discussion, rather than an economic reality.
We believe there is little room for P/E multiple improvement, and that stocks will require earnings growth to move forward. Therefore, a focus on quality is in order, as we expect to see more balanced performance between cyclical, defensive and growth sectors. Our belief is that the United States will perform at least as well as other developed markets given the likelihood of stronger economic and earnings growth. We expect that a paucity of growth coupled with strong balance sheets and free cash flow will accelerate M&A activity.