Simon Melluish, head of US equities for Gartmore says the number of fat people in the US has persuad...
Simon Melluish, head of US equities for Gartmore says the number of fat people in the US has persuaded him to buy into Weight Watchers even as the wider US market remains uncertain.
He cites this as one example of the stockpicking strategy followed by Gartmore's US funds management team now located near Philadelphia.
With corporate governance questions largely behind them, many of the S&P 500's constituents are now concentrating on making the most of the continued strong support from the US Federal Reserve Bank.
To date the bank's interest rate cuts have freed up some $300bn in additional spending power among US consumers, according to CSFB figures quoted by Melluish, and it retains significant ammunition that could free additional money into the economy if needed.
There are plenty of other reasons to consider US investments, he adds.
The S&P 500 and Nasdaq Composite have significantly outperformed the average building society account in the past 10 years, despite stock market losses since March 2000, Melluish says.
And the US continues to draw young, well educated immigrants in large numbers, enabling the country to maintain a younger median age than major European economies and Japan.
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