Monthly Fund Commentary - Jan 2018

Global Titans Fund Commentary Global stocks entered the New Year on a high note, lifted by signs of an improving outlook for the world economy and strong corporate earnings growth. Economic data in the U.S., Europe and Japan continues to show strong momentum, while many emerging markets also experienced surging business activity. Emerging markets once again led global markets higher being a prime beneficiary of a weakening US dollar. Economically sensitive stocks outpaced defensive sectors across the board. The consumer discretionary, financials and information technology sectors posted the largest gains whilst the more staid consumer staples and utilities sectors lagged. The Fund’s unit pri
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