Legg Mason Global Asset Management
The US is undoubtedly the most efficient equity market due to its sheer size and the maturity and sophistication of its investor base, making life difficult for alpha seekers. Nonetheless, winners and losers are still expected to emerge, especially due to rising populism and Trump’s reforms, which will have varying impacts across a variety of companies and sectors.
This is not to mention a strengthening dollar which has traditionally attracted flows from emerging markets in Asia seeking to hedge their home assets. The Federal Reserve is already signalling confidence in US growth, with futures markets recently pricing a 100% probability for a March rate hike.
Though asset managers in Asia may be waiting for demand to trickle from HNWIs into equities in the strongest developed market, the region’s private banking gatekeepers have selected Legg Mason Global Asset Management as this year’s Best Fund Provider – US