Portfolio Adviser - Portfolio Adviser September 2018
Editor’s Letter
Sebastian Cheek 2018-09-29 00:27:11
Apple and Amazon – the two ‘A’s in the over-used ‘Faang’ acronym – recently smashed through the $1trn market-cap barrier, making them the two most expensive companies in the world.
Entry into the exclusive trillion-market-cap club came after a meteoric journey upwards. Apple shares have increased by about 1,100% since the launch of the iPhone in 2007, while Amazon’s jump from $600bn to $700bn took a mere 16 days.
And the other Faang members are not too far behind. Alphabet (Google) has a market cap of about $815bn while Facebook’s is $510bn. Netflix, which has suffered a bit lately, is a tad behind at $151bn.
Between them, the Faangs make up roughly 15% of the S&P 500 by market cap. No one can deny these stocks are a fantastic growth story but our cover story this month considers whether their successes can continue and how they can be accurately valued.
Elsewhere, we speak with Rosemary Banyard of Sanford Deland about her Free Spirit Fund and life after Schroders. Banyard tells us how she has made swapping the hustle and bustle of the City for working from home near Cambridge work in her favour.
Udit Garg, head of wealth management at Sun Global Investments, reveals the firm’s plan to expand its high net-worth offering around the country, and Cornelian Asset Managers CIO Hector Kilpatrick says while the firm remains cautious on the back of trade war talk, it isn’t entirely risk-averse in its portfolios.
We also get the low-down on the multi-asset sector from Square Mile and Iboss investment director Chris Metcalfe picks his top funds in the IA Europe ex UK sector.
Sebastian Cheek, editor
sebastian.cheek@lastwordmedia.com
©Mark Allen Group. View All Articles.