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 1P17.5370.76--7.07169.76Buy
Canadian General Investments GBP25.1434.9168.90-29.351,794.05Buy
Gabelli Value Plus Trust PLC26.00---4.26136.57Buy
JP Morgan American IT plc20.1061.80128.65-4.61405.90Buy
JP Morgan US Smaller Companies IT PLC Ord 2.5P34.0088.60175.35-5.25283.90Buy
JZ Capital Partners Ord29.7741.6695.76-28.30769.20Buy
JZ Capital Partners ZDP 20226.11----Buy
Jupiter US Smaller Companies PLC Ord 25P14.5932.9284.62-6.72926.29Buy
Middlefield Canadian Income Trust I18.087.7629.38-11.61114.55Buy
North Atlantic Smaller Companies IT5.0848.99159.80-19.353,205.37Buy
The North American Income Trust plc Ord 25p17.9765.15106.41-9.461,311.07Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
BMO MSCI USA Income Leaders GBP Hedged10.8414.06--GBPEquity - USABuy
Boost NASDAQ 100 3x Leverage Daily ETP55.7795.50170.67-USDEquity - USABuy
Boost NASDAQ 100 3x Short Daily ETP-39.80-55.65-82.85-USDEquity - USABuy
Boost S&P 500 3x Leverage Daily ETP28.4745.6077.25-USDEquity - USABuy
Boost S&P 500 3x Short Daily ETP-25.73-38.76-69.89-USDEquity - USABuy
CFS DBX Trck S&P 500 Equal Weight DR 1C Acc GBP2.2715.67--GBXEquity - USABuy
DB X-Trackers MSCI USA Index UCITS ETF 1C GBP3.8617.2771.93136.19GBPEquity - USABuy
DB X-Trackers MSCI USA Minimum Volatility UCITS ETF (DR) 1D USD9.23---USDEquity - USABuy
DB X-Trackers S&P 500 2x Inverse Daily UCITS ETF USD-17.58-27.25-52.69-81.33USDEquity - USABuy
DB X-Trackers S&P 500 2x Leveraged Daily UCITS ETF USD18.9430.5057.16236.13USDEquity - USABuy
DB X-Trackers S&P 500 Inverse Daily UCITS ETF GBP-13.90-13.32-7.56-46.39GBPEquity - USABuy
DB X-Trackers S&P 500 UCITS ETF 1C GBP3.8917.3273.19137.64GBPEquity - USABuy
DB X-Trackers S&P 500 UCITS ETF (DR) 2C Hedged GBP9.1914.34--GBPEquity - USABuy
ETFS Russell 2000 US Small Cap GO UCITS ETF GBP1.2021.5768.91129.49GBPEquity - Small Cap USABuy
First Trust US Equity Income UCITS ETF A Inc GBP-3.849.59--GBPEquity - USABuy
First Trust US Large Cap Core AlphaDEX UCITS ETF A Acc GBP4.1218.6965.82-GBXEquity - USABuy
FundLogic MS Scientific Beta US Equity Factors UCITS9.0412.24--USDEquity - USABuy
HSBC MSCI USA GBP3.9616.9971.36131.50GBXEquity - USABuy
HSBC S&P 500 GBP3.7217.4774.99132.92GBPEquity - USABuy
Lyxor UCITS ETF RUSSELL 2000 C USD7.4820.9830.4894.34USDEquity - Small Cap USABuy

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