Across the world, the average human lifespan is increasing. However, while this is clearly good news, there are some downsides to the trend: primarily, as people live longer, their healthcare costs increase. The pressure is already being felt by governments in Europe, where healthcare spending is soaring. A similar trend is starting to be felt in rapidly developing Asian countries.
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Over the past decade, there has been a steady growth in interest in Asia Pacific-focused funds and trusts among retail investors. Aberdeen New Dawn, however, has been offering investors a route into the region for almost 30 years.
‘New Dawn has been running since the 1980s and had a presence in Asia since the early 1990s,’ says co-manager James Thom, who has been part of the team for the past eight years. ‘We have a well-resourced team on the ground in Asia – one of the better-resourced teams in the sector.’
Smaller companies are the most exciting part of the stock market,’ says Georgina Brittain, co-manager of JPMorgan Smaller Companies investment trust (JMI). Brittain describes the trust’s stock-picking approach as being composed of three factors: value, quality and momentum.
Every day it seems a mainstream fund announces a degree of environmental, social and governance (ESG) integration into its investment strategy,’ says David Osfield, manager of the EdenTree Amity International fund.
Amity, however, has had an ESG approach since its launch in 1999. Osfield adds: ‘This gives us a depth of experience, longevity and understanding. It is where the credibility comes from.’
As the name suggests, Murray Income trust focuses on dividend paying companies, aiming to provide shareholders with strong, reliable income growth; it prides itself on the fact that it has a 44-year track record of dividend growth. The current yield is around 5.1 per cent. The trust attempts to provide income primarily through investing in UK-listed shares, although it is able to hold up to 20 per cent of its portfolio outside of the UK.
We are a ‘global-focused, long-only equity trust, focusing on companies trading below their net asset value,’ says Joe Bauernfreund, manager of British Empire Trust. While the trust sits in the Association of Investment Companies global sector, it is underweight North American equities, which comprise 22 per cent of its holdings. Other global funds have 50 per cent in the US.
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