Speaking at PA Autumn Congress 2015, Weldon said he remains fairly constructive on the US economy, but did admit it would be better if other economies were growing more strongly as well.
For this reason, the fund currently has a bias toward domestically focused US firms.
“Our focus is in growth, quality and stability and, to some extent, domestic companies. Not every stock ticks every box. Out and out growth would be companies like Amazon and Google, stability would be a firm such as Mastercard, which has a good growth element but is also highly defensive, with a defensible market position.”
Weldon said, the fund also currently has no exposure to energy, as he feels the valuations are not yet discounting the worst outcome.
