Fiera Capital Global Equity Focused Q4 2018 Commentary

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Includes: BDX, DEO, HDB, KYCCF, MA, MCO, NSRGY, RHHBF, RHHBY, TJX, UL, UN
by: FieraCapitalUS
Summary

The Global Equity Focused Strategy affords the Global Equity Team increased latitude in creating a concentrated portfolio of their highest conviction ideas from across global developed and select emerging markets.

Our expectations include returns with lower than market volatility, achieved by investing in companies we believe hold unique competitive advantages, operate with high barriers to entry and are able to consistently generate attractive returns on invested capital with little dependence on financial leverage.

This commentary reviews the previous quarter and discusses our outlook and positioning for the Global Equity Focused strategy.