Mark Grammer, managing director and portfolio manager at Gluskin Sheff + Associates
Focus: Global equities
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TOP PICKS

PERSOL HOLDINGS (2181.TYO) - formerly Temp Holdings
A Japanese company that is focusing on providing temporary staff in the domestic market. It is operating in an extremely favorable market where there is a persistent labour shortage across industries. Job openings exceed applications by the highest amount in recent history. As such, companies are hiring temporary staff which is Persol’s specialty. Due to changing demographics this trend is expected to continue.

NOVARTIS (NVS.N)
A diversified Swiss drug manufacturer also involved in eyecare through its Alcon business. In addition to their branded business, Novartis also has a generics division, Sandoz. A key drug, Entresto (heart failure), was slow to launch but is now showing increased momentum. Novartis has a lot of potential to reshape their profile as the company evaluates their stake in Roche, as well as a consumer health JV with GSK. A key attraction is Novartis' dividend yield and steady growth.

TRAVELSKY TECHNOLOGY (0696.HKG)
A Chinese SOE which is the brains of the Chinese airline industry, providing them with the technology that controls inventory systems and ticketing. It is commonly known as a Global Distribution System (GDS). TravelSky is a state-regulated monopoly and as such faces no competitive pressure from peers. Chinese travel is expected to display steady growth due to both domestic and outbound travel. As long as domestic airlines continue to grow alongside the industry, TravelSky, as their exclusive supplier, will benefit. TravelSky has a net cash balance sheet and cash generative business model. 

 

DISCLOSURE PERSONAL FAMILY PORTFOLIO/FUND
2181 N N Y
NVS N N Y
0696 N N Y

PAST PICKS: DECEMBER 16, 2016

PERSOL HOLDINGS (2181.TYO) – formerly Temp Holdings

  • Then: ¥1,733.00
  • Now: ¥2,730.00
  • Return: 57.53%
  • Total return: 58.76%

DIAGEO (DGE.LN)

  • Then: £2,055.00
  • Now: £2,592.50
  • Return: 26.15%
  • Total return: 29.45%

INTESA SANPAOLO (ISP.BIT)

  • Then: €2.41
  • Now: €2.76
  • Return: 14.66%
  • Total return: 22.26%

TOTAL RETURN AVERAGE: 36.82%

 

DISCLOSURE PERSONAL FAMILY PORTFOLIO/FUND
2181 N N Y
DGE N N Y
ISP N N Y


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