Martin Currie Global Portfolio Trust - Positive equity and global economic outlook

Martin Currie Global Portfolio Trust (MNP) is managed by Zehrid Osmani, who aims to generate above-market returns over a rolling five-year period. He says that there are exciting new growth opportunities available, but he cautions the need to stay disciplined given stock markets ‘have travelled far and valuations are generally high’. The manager is positive on the global economic outlook, which is supported by robust levels of infrastructure spending. He believes that while rising US interest rates could lead to higher levels of stock market volatility, it is part of a ‘normalisation’ rather than a tightening of US monetary policy, so he remains positive on the equity outlook. Osmani is continuing to focus on companies with the potential to generate consistent earnings growth and pricing power to protect their margins in an environment of rising costs.