Think Income and Growth Don’t Exist Around the Globe? Think Again
In early 2017, we wrote a paper called “Think Income and Growth Don’t Exist in This Market? Think Again” that sought to address the challenge of finding U.S. equity investments that offered an attractive yield, yet came without a lofty, dangerous valuation.
It turns out, U.S. investors aren’t alone in this challenge. As our non-U.S. readers can attest, as sovereign banks around the globe have pushed their interest rates into negative territory, it has funneled vast quantities of investor wealth into traditional high yield investments, driving up valuations.
And so, investors considering income investments in the global opportunity set find themselves facing a similar predicament. Is there a balance between income and growth? As you’ll see in this paper, I believe the answer is “yes” – in fact, this time, you have two options.