Sector Dashboard
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Equity markets had a positive start to the year, as hopes for further global economic growth, albeit at a slower pace, replaced fears of an abrupt end to the cycle. Sector performance in January reflected this shift, with the higher beta and more cyclical sectors generating the highest gains. Looking ahead, we believe that a barbell approach, combining both defensive and cyclical investments, may suit the current landscape. Our three Sector Picks, which are unchanged from January, align with this view. The Picks include a defensive option, Health Care, alongside Industrials as a means to benefit from late-cycle trends. Technology, which was a new focus for us last month, has secular growth drivers that may make it less vulnerable to slower economic growth.
