Taking the measure of US stocks: the long view and valuations
At least two fund management firms have adjusted downwards their long-run expectations of returns for large-cap US equities, with a 10 to 15-year view
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AFTER such a strong year for US and global stocks – thanks to US’ 73 per cent share of the MSCI World index – it may be tempting to pile more funds into US equities.
After all, the US remains the world’s largest economy and is the centre for tech and innovation, a supertrend by all accounts. No less than the Senior Minister Lee Hsien Loong affirmed GIC’s “faith in the US economy’s vibrance, dynamism and sheer resilience”.
During the GIC Insights 2024 dinner late last year, he said as much as a third of GIC’s long-term portfolio is invested in the US, where it has weathered boom and bust cycles.
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