Global stock prices look steep, Trimark manager says

Michael Hatcher finds value in select out-of-favour U.S. names.

Sonita Horvitch 26 October, 2016 | 5:00PM

Michael Hatcher, head of global equities and director of research at Trimark Investments, says that after a disappointing performance in 2015, developed-market stocks put in a better showing in the first nine months of 2016.

Furthermore, he says, emerging-market equities staged a comeback in the nine months to the end of September, after their poor returns for 2015.

A value manager, Hatcher cautions that he has been finding it challenging this year to find stocks that meet his criteria. Focusing on the MSCI ACWI Investable Market Index, this all-country world index, says Hatcher, produced a total return in U.S. dollars of 7.5% in the first nine months of 2016 and 12.9% in the 12 months to the end of September versus a negative 1.7% for 2015. (This benchmark index tracks stocks in 23 developed markets and 23 emerging markets and covers almost 100% of global equity opportunities.)

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Becton, Dickinson and Co257.37 USD-0.48
British American Tobacco PLC ADR37.23 USD0.49
Diageo PLC ADR141.63 USD3.13
Northern Trust Corp80.17 USD4.92
Stericycle Inc54.37 USD3.68
W.W. Grainger Inc311.02 USD0.66
Wells Fargo & Co25.47 USD5.95

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Sonita Horvitch

Sonita Horvitch  

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