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Taher is bullish on the financials space (lending and non-lending) and believes a confluence of factors can provide good tailwinds to this sector in 2024. He urges distributors to seriously consider their Financial Services Fund – a top quartile performer - which is 50% exposed to banking and 50% to a variety of NBFCs and non lending businesses including exchanges, wealth and asset managers, stock brokers, insurers and other market services providers.
We are at the beginning of what promises to be a strong credit growth cycle and a rate cut cycle – which will not only spur lending businesses but will also support capital markets related businesses.
While NIMs may well have peaked, volume growth will more than offset margin compression as the credit cycle gathers momentum.
A satellite position in the financial services theme for2024 could be a wise choice for client portfolios.
Invesco’s equity funds have bounced back well in 2023. Its Focused 20 fund is now topping its league table, capping a strong performance recovery that’s been in play over the year.
Tend to agree with you
