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JP Morgan Global Growth & Income beats benchmark as managers boost defensive exposure
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In their annual results published today (30 September), the managers argued that «caution about the near-term economic outlook […] has made us wary of the low growth cyclical parts of the economy, such as commodity exposed names and industrial cyclicals». Instead, the strategy has adopted an overweight position in sectors such as high-quality financials and payment companies, as they argued they are «at least risk of near-term earnings declines» and should «outperform during any slowdown». Investor sentiment for technology funds fades as Fidelity clients turn to defensive assets Ma...
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