THE BANKERS INVESTMENT TRUST PLC
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US tailwinds Perhaps the most eye-catching event for global investors was the approval of President Donald Trump ’ s tax reforms towards the end of 2017 , which was the first major legislative triumph for the outspoken president . It was also the country ’ s biggest tax system overhaul in 30 years . We expect his corporate tax reductions to spur on wage growth and fuel a pickup in consumer spending during the next 12 months . Talk of a trade war with China might spook some investors , but I ’ m on the fence . I don ’ t think a trade war between the world ’ s two largest economies benefits either country and looks more like a push to force the Chinese to open their economy . Whether or not a ‘ trade war ’ does develop , there are some things that we are confident will keep the US on track , such as the strong domestic
THE BANKERS INVESTMENT TRUST PLC
Positioning as at 31 October 2017 By revenue generated
Asia Pacific ex Japan 3.5 % Japan 8.7 %
Emerging Markets 30.9 % United Kingdom 13.9 %
North America 28.1 %
By listing location
Europe 14.9 %
There are some things that we are confident will keep the US on track , such as the strong domestic economy and a clear pickup in capital expenditure
Asia Pacific ex Japan 16.9 % Japan 11.6 % North America 27.7 %
Emerging Markets 2.4 % United Kingdom 26.6 % Europe 14.8 %
Reweighted to exclude cash . Totals may not equal 100 due to rounding
FE TRUSTNET