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 1P42.0449.19--3.16159.54Buy
Canadian General Investments GBX25.7428.5444.95--Buy
Gabelli Value Plus Trust PLC21.52---7.58126.59Buy
JP Morgan American IT plc31.1159.08126.82-2.89367.31Buy
JP Morgan US Smaller Companies IT PLC Ord 2.5P26.5651.39189.31-11.86255.29Buy
JZ Capital Partners 6%CULS 20213.73----Buy
JZ Capital Partners Ord35.3931.5681.55-34.83784.06Buy
JZ Capital Partners ZDP 202214.62----Buy
Jupiter US Smaller Companies PLC Ord 25P25.4916.4390.70-13.26896.39Buy
Middlefield Canadian Income Trust I34.8016.6243.74-13.50116.18Buy
North Atlantic Smaller Companies IT16.4958.28159.95-14.492,929.60Buy
The North American Income Trust plc Ord 25p38.0944.08109.78-9.581,235.40Buy


Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
DB X-Trackers MSCI USA Index UCITS ETF 1C GBP23.7532.2968.76145.26GBXEquity - USABuy
DB X-Trackers S&P 500 Inverse Daily UCITS ETF GBP13.9315.78-5.88-41.37GBXEquity - USABuy
DB X-Trackers S&P 500 UCITS ETF 1C GBP23.6132.5470.25147.35GBXEquity - USABuy
ETFS Russell 2000 US Small Cap GO UCITS ETF GBP25.5232.0446.82126.77GBPEquity - USABuy
First Trust US Large Cap Core AlphaDEX UCITS ETF GBP22.3331.6359.12-GBXEquity - USABuy
HSBC MSCI USA GBP23.4631.7067.48139.56GBXEquity - USABuy
LYXOR UCITS ETF CANADA (S&P TSX 60) D GBP18.6630.8019.3726.83GBXEquity - North AmericaBuy
Lyxor UCITS ETF Dow Jones Industrial Average D USD2.445.3723.42-USDEquity - USABuy
PS Dynamic US Market UCITS ETF GBP23.4326.0956.90149.06GBXEquity - USABuy
PS EQQQ Nasdaq 100 UCITS ETF GBP31.0533.3595.09186.64GBXEquity - USABuy
PS FTSE RAFI US 1000 UCITS ETF GBP22.5633.0162.30144.28GBXEquity - USABuy
SPDR S&P 500 UCITS ETF GBP23.3632.2369.63-GBPEquity - USABuy
SPDR Russell 2000 US Small Cap UCITS ETF GBP26.9332.79--GBPEquity - Small Cap USABuy
SPDR Russell 3000 US Total Market UCITS ETF GBP23.6431.92--GBPEquity - USABuy
SPDR S&P US Dividend Aristocrats UCITS ETF GBP21.3539.5669.61136.68GBPEquity - USABuy
Source MSCI USA USD3.404.7926.6284.74USDEquity - USABuy
Source Russell 2000 USD6.235.4211.8475.40USDEquity - USABuy
Spdr S&P 500 Low Volatility UCITS ETF GBP21.3834.3972.81-GBPEquity - USABuy
UBS ETFs plc - MSCI USA SF UCITS ETF (USD) A Acc GBP23.5831.8467.56-GBXEquity - USABuy
UBS (Irl) ETF plc - MSCI USA UCITS ETF (USD) A Dis GBP22.5830.3864.31-GBXEquity - USABuy


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