Chuk Wong's hunt for stock-market gems

The U.S. is increasingly alluring for this global value manager.

Sonita Horvitch 27 June, 2012 | 6:00PM
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 Chuk Wong, vice-president and portfolio manager at GCIC Ltd, says that from a global perspective the United States is becoming increasingly attractive. "The U.S. economy is gradually recovering and stock valuations are more compelling," says Wong, who is a value manager. "There is also a big universe of U.S. stocks to choose from."

Wong has been steadily raising the U.S. exposure in the global portfolio for which he is responsible. One focus is U.S. retailers. "I am investing in those companies with strong franchises that stand to benefit from a rebound in U.S. consumption." He has funded the U.S. stock purchases "by selling down holdings in European stocks and modestly reducing exposure to Asia."

Although a bottom-up stock picker, Wong does pay considerable attention to the global macroeconomic picture. Of Europe, he says it is tough to become enthusiastic about this region given the considerable uncertainties surrounding the financial health of key countries and the outlook for the euro. But, he adds, there are some companies that warrant attention. "These are global or regional leaders with strong fundamentals and good balance sheets."

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Sonita Horvitch

Sonita Horvitch  

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