Despite having 55% of the fund in US equities, Grant says that he is actually underweight the US as the MSCI World index, with 57%, is even more favourably allocated there.
“We don’t take geographic bets and see the US as relatively expensive but it doesn’t mean there aren’t opportunities there,” he says.
He also talks about the negatives of a strong dollar compared to the strengths of a weak oil price while also explaining which is his number-one pick at the moment. Spoiler alert – it is not the US.
Running through his entire stock selection process, Grant also describes how the firm’s ESG (environmental, social and governance) overlay helps him avoid risk associated with environmental and social issues as well as companies with weak governance.
