Katherine Owen, portfolio manager at Mackenzie Investments, says selling Novo Nordisk - the company behind popular weight-loss drugs - has been for ‘risk management’ in her portfolios
Jade Hemeon
Global investing in 2021 will be largely affected by the continuing repercussions of Covid-19 along with the expectations and realities of vaccines.
“As vaccines roll out, the return to growth will be the 2021 story, and much of that is already priced into markets,” said Jurrien Timmer, director of global macro in the global asset allocation division of Boston-based Fidelity Investments.
With world growth expected to return to positive territory in 2021 after contracting in 2020, international fund managers are anticipating a continuation of the nascent rotation in the stock market into some cyclical companies that lagged during the past few years as tech giants dominated, leading to more opportunities both geographically and in terms of industry sectors.