How US businesses are adapting to a new age of trade

Colm Friel shares his optimistic long-term outlook for the Fund, underpinned by portfolio companies’ adaptability, pricing power and innovation-led growth. He challenges the common perception that US equities are overpriced, arguing that the market’s premium largely reflects index composition rather than excessive valuations. With the Fund trading at a meaningful discount to the broader market and offering diversified exposure across sectors and market caps, he believes it is well positioned to deliver long-term returns.