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Countries not as important as companies
Investors should not look at countries, but the companies within countries, according to Aberdeen’s senior investment manager, Andrew McMenigall.
In an assessment of global investing released this week, McMenigall said recent underlying structural changes meant that where a company resides had become irrelevant, it was what the company did and how it performed.
“We should be careful of the labels we apply,” he said. “Where a company is located has less and less to do with what it sells or who its customers are.”
McMenigall said this was evidenced by the fact that of the top 15 stocks in the United Kingdom, only one generated the majority of its revenue from the UK market. He said the remainder were global companies with revenue in multiple markets.
AUTHOR
Mike Taylor
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