Overskriften på en analyse fra Goldman Sachs er “A Land of Opportunity”. Hermed menes ofte USA. Men pointen i analysen er, at det ikke er amerikansk-baserede selskaber, der giver de bedste afkast. Over de seneste ti år er der en tendens til, at det størst afkast findes hos selskaber, der er baseret uden for USA. I 2019 var det 90 pct. de af de 50 selskaber med det største afkast. “Ved at se mere globalt på mulighederne kan investorerne få et attraktivt afkast i deres portefølje,” skriver Goldman Sachs.
Uddrag fra Goldman Sachs:
A land of opportunity.
Investor returns need not be limited to the US.
Since the post-crisis era, US equities have outperformed global peers across a number of metrics. Historical drivers of exceptional returns reflect both the US macro advantage (domestic GDP outpaced developed market GDP) and sector differentials (US equities tended to be more growth-tilted).
Yet on average each year roughly 78% of the top performing 50 public companies are domiciled outside of the US. In 2019 alone, international companies represented 90% of these top performers.
By broadening the opportunity set globally, we believe investors could unleash attractive return potential in their portfolios.
Source: Bloomberg and GSAM.
