Grayson Witcher

Mawer manager takes a "very long view" on U.S. equities.

Michael Ryval 15 April, 2011 | 6:00PM

Grayson Witcher maintains that there are many good U.S. investment opportunities, given a longer-term horizon.

"We'll be looking back five years from now, saying we got some solid returns and saw how it was going to happen," says Witcher, a portfolio manager at Calgary-based Mawer Investment Management Ltd., who oversees the $236-million Mawer U.S. Equity. "We had a strong earnings yield, and an attractive monetary policy. A number of factors propelled the U.S economy."

Besides, he says, many U.S. companies are global in nature and benefit from growth in emerging markets. "About 40% of our companies' underlying revenues are generated outside the U.S. It's not entirely a bet on the U.S. economy," Witcher says, pointing to companies such as Nike Inc. NKE and PepsiCo Inc. PEP.

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Michael Ryval

Michael Ryval