'Global equities have 75% upside potential'
Global equities can rise by up to 75% over the next five years driven by profit growth, according to Knut Gezelius, lead manager of the Skagen Global fund.
Skagen is known for its active, value-based investment philosophy. But if you look at the largest positions of the global equity fund, you’ll mostly see prominent growth stocks such as Microsoft, Adobe, Alphabet and Mastercard. What happened?
Outperformance despite tech underweight
Skagen Global remains an outlier among global equity funds. The fund shuns most big American technology stocks. ‘The valuations are still unjustifiable for us,’ says manager Knut Gezelius who, despite this underweight to big tech, still managed to beat the market year-to-date.