Manraj Sekhon

For this international equity manager, growth has "evolved" beyond traditional sectors.

Michael Ryval 21 March, 2008 | 1:00PM
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Growth investing has taken on a new meaning, argues Manraj Sekhon, manager of the $227.3- millionMackenzie Universal International Stock and director of international equities at Henderson Global Investors Ltd. in London, England.

"Growth has evolved over the last 10 years," says Sekhon, 38. "In 1998, it meant technology, telecommunications and health care. But you won't get those answers any more."

He cites a number of reasons for the change. "In some sectors, the business model is broken, and the sustainability of growth has not been proven. Growth has evolved into other parts of the economy, and also by geography."

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Michael Ryval

Michael Ryval  Michael Ryval, a regular contributor to Morningstar, is a Toronto-based freelance writer who specializes in business and investing.

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