publications in late October and early November , you may have noticed that the US had an election on . Whether it was tables showing stock markets tend to do better under a Republican president or predictions of how a Joe Biden victory would lead to a thawing in Sino-American relations , it was difficult to find a fund group without an opinion on “ what the election means for investors ”. But while it was difficult , it wasn ’ t impossible . When American Randall Dishmon , manager of the
Invesco Global Focus fund , was asked for his view , he replied : “ I ’ ve seen political cycles come and go . And I find I can ’ t really stress this enough : I ’ ve never yet seen a political cycle that mattered to the outcome . If we were to run Karl Marx and he won a landslide , then I would say it ’ s quite possible that we would get some meaningful change . But [ otherwise ], it ’ s very difficult .”