US equity markets have hit record highs in the year since Donald Trump's election as President on 8 November 2016, with the S&P 500 rising 16% in sterling terms, yet there has been a wide dispersion in fund performance over the period.
Trump's victory over Democratic candidate Hillary Clinton sparked a rally for value stocks, after the President promised a major fiscal boost for the US economy. However, with Trump failing to get his tax reforms through until only recently, Peter Sleep, senior investment manager at 7IM, said this had enabled growth managers to take advantage of the "inbuilt bias" in the US market. "Growth managers are outperforming, blend managers are underperforming a bit and value managers are being killed," he said. Growth managers have had a style tailwind during 2017, with technology stocks i...
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