As Donald Trump approaches 100 days in office, it appears that more time is required for his administration to implement the stimulative policies he has promised. Irrespective of any policy changes, Mark Sherlock, Lead Portfolio Manager, Hermes US SMID Equity Fund and Alex Knox, Senior Investment Analyst, believe the underlying strength of the US economy and its wealth of high-quality small- and mid-cap businesses will continue to provide attractive investment opportunities. Software developer Manhattan Associates is one of them.
Baby or bathwater?
Every January, despite efforts to stoke post-Christmas consumption with hefty discounts, many retailers experience cash flow problems and some go out of business. This year, the shift towards online from bricks-and-mortar stores accelerated faster than anticipated. Given that plenty of shops are struggling in an already tough competitive environment, media and stock research reports about the performance of retailers have been alarmist.