Pandemic Accelerated Existing Trends

Mawer’s Peter Lampert believes strong sectors, stocks and countries got stronger, while the weak got weaker

Michael Ryval 7 January, 2021 | 1:10AM
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HK Skyline At Dusk

As it did in many markets, the coronavirus pandemic impacted emerging markets equities, causing a big spike in technology stocks and putting downward pressure on consumer discretionary names. While it is quite likely that this trend may continue for some time, Peter Lampert, portfolio manager of the 4-star gold-rated $250.8 million Mawer Emerging Markets Equity Fund – A, is taking an even-handed approach and holds names in both camps.

“A lot of the tech stocks that have been winners this year have really strong long-term fundamentals,” says Lampert, portfolio manager at Calgary-based Mawer Investment Management Ltd. “What the pandemic has done has accelerated those trends, whether it’s e-commerce, or digital adoption across many different businesses. They were on a healthy trajectory, but it’s been turbo-charged and likely to persist. But in some cases valuations may have over-shot,” says Lampert, pointing to high-flying U.S. stocks such as Tesla Inc. (TSLA) and ZOOM Technologies Inc. (ZM).

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Alibaba Group Holding Ltd ADR169.99 USD-3.51Rating
Heimstaden AB Pref. Shs32.90 SEK0.00 Inc1,700.00 TWD-2.02
Taiwan Semiconductor Manufacturing Co Ltd ADR114.18 USD0.48Rating
Tencent Holdings Ltd62.79 USD-3.27
Tesla Inc1,018.43 USD-0.63Rating
TravelSky Technology Ltd ADR19.72 USD-0.05
Zoom Video Communications Inc241.10 EUR0.75

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Michael Ryval  

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