Asset Management Awards for Excellence 2017 – Best Fund Provider – US Equity

Legg Mason Global Asset Management

Lennie Lim, CFA Managing Director and Regional Head, Asia


Lennie Lim, CFA
Managing Director and
Regional Head, Asia

The US continued to prove that it was the market to be reckoned with in 2016. After it was rocked by the same growth concerns that plagued global markets in 2015, US equities resiliently surged more than 17% to close the year +9.5%. The rise of US equities was helped in no small part by a new US administration that promises to “make America great again”, with plans for deregulation, tax reform and increased fiscal spending.

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
Equity
.