North America

Introduction to North America

North American funds focus on companies that are domiciled in the United States and Canada. These could be companies that generate the majority of their revenues domestically or those that have extensive revenues from outside North America. The US market is the largest and broadest in the world and therefore fund managers have a large selection of stocks and sectors from which to choose.

The benchmark indices are the S&P 500, the Dow Jones industrial average and the technology-focused Nasdaq. Among the major constituents of the S&P 500 are the technology giants of Apple and Microsoft, oil majors Exxon Mobil and Chevron, plus consumer goods groups Johnson & Johnson and Proctor & Gamble, but many fund managers prefer to focus on smaller or mid cap stocks.

The North American market is usually seen as more 'defensive' than other markets - it tends to hold its value even when times are tough. However, because it is large and liquid and there are a lot of market participants, it is also seen as extremely efficient. There don't tend to be as many mispricing opportunities for active managers to exploit. North America managers follow a variety of styles, some prioritising high growth companies, others preferring more 'value' names trading at cheaper prices.

The tax treatment of investments is subject to tax law and HMRC practice which are subject to change. The value of investments may be affected by exchange rate movements where the underlying investments are not denominated in Pounds Sterling.

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
Blackrock North American Income Trust Plc ORD 1P0.9852.7673.71-3.76168.85Buy
Gabelli Value Plus Trust PLC-7.4422.48--5.77132.65Buy
JP Morgan American IT plc6.0243.00105.58-5.76420.20Buy
JP Morgan US Smaller Companies IT PLC Ord 2.5P-4.2250.78129.52-3.44287.90Buy
Jupiter US Smaller Companies PLC Ord 25P-4.2927.8538.85-9.76938.62Buy
North Atlantic Smaller Companies IT7.6847.54103.68-20.593,488.37Buy
The North American Income Trust plc Ord 25p3.1265.3196.16-5.651,346.08Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
BMO Enhanced Income USA Equity UCITS ETF0.66---GBPEquity - USABuy
BMO MSCI USA Income Leaders GBP Hedged12.0415.82--GBPEquity - USABuy
Boost NASDAQ 100 3x Leverage Daily ETP53.0491.59178.96983.73USDEquity - USABuy
Boost NASDAQ 100 3x Short Daily ETP-41.23-56.26-83.17-97.12USDEquity - USABuy
Boost S&P 500 3x Leverage Daily ETP39.8952.5494.18416.61USDEquity - USABuy
Boost S&P 500 3x Short Daily ETP-33.84-42.16-71.48-92.56USDEquity - USABuy
ETFS Russell 2000 US Small Cap GO UCITS ETF GBP4.85-0.9141.7893.89GBPEquity - Small Cap USABuy
First Trust US Equity Income UCITS ETF A Inc GBP9.152.24--GBPEquity - USABuy
First Trust US Large Cap Core AlphaDEX UCITS ETF A Acc Nav GBP4.944.2142.57-GBPEquity - USABuy
First Trust US Small Cap Core AlphaDEX UCITS ETF A Acc USD14.21---USDEquity - Small Cap USABuy
FundLogic MS Scientific Beta US Equity Factors UCITS11.0714.68--USDEquity - USABuy
HSBC MSCI USA GBP3.884.7648.89109.80GBXEquity - USABuy
HSBC S&P 500 GBP4.265.0651.66113.61GBPEquity - USABuy
Lyxor UCITS ETF RUSSELL 2000 Acc USD14.5411.9830.9080.55USDEquity - Small Cap USABuy
Lyxor UCITS ETF Nasdaq 100 D USD17.3028.0555.68155.88USDEquity - USABuy
Lyxor UCITS ETF Dow Jones Industrial Average Dist16.7423.7647.39-USDEquity - USABuy
Lyxor Ucits ETF Msci USA Dis USD13.4318.0235.3690.09USDEquity - USABuy
PS Dynamic US Market UCITS ETF GBP5.295.4846.50106.01GBXEquity - USABuy
PS EQQQ Nasdaq 100 UCITS ETF GBP7.8914.4973.45179.75GBXEquity - USABuy
PS FTSE RAFI US 1000 UCITS ETF GBP2.43-0.8441.9297.46GBXEquity - USABuy

Disclaimer

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