Saturday, 18th November 2017
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Expert View

John Smiles

Qualified Financial Advisor

The importance of investing globally?

The Wilshire 5000 Total Market Index is a widely used benchmark for the US equity market. You might guess that the Index is made up of 5,000 stocks but it actually contained only around 3,600 companies, as at December 31, 2016. The last time this index contained 5,000 or more companies was at the end of 2005. This mirrors the overall trend in the US stock market, which accounts for around half of the world’s total stock market capitalisation.

In the past two decades there has been a decline in the number of US-listed, publicly traded companies. Should investors in public markets be worried about this change? We believe not.

When looked at globally, the number of publicly listed companies has not declined. The number of companies listed globally has increased from about 23,000 in 1995 to 33,000 at the end of 2016. This is substantially larger than what many investors consider to be an investable universe of stocks. The MSCI All Country World Index Investable Market Index (MSCI ACWI IMI) contains between 8,000 and 9,000 stocks.

While it is true that in the US there are fewer publicly listed companies today than there were in the mid-1990s (a decrease of about 2,500), the increase in listings both in developed markets outside the US and in emerging markets has more than offset the decline in US listings.

For investors looking to build diversified investment portfolios, the implications of the trend in listings are clear. The global equity market is large and represents a world of investment opportunities, nearly half of which are outside of the US. While diversifying globally implies an investor’s portfolio is unlikely to be the best performing relative to any one domestic stock market, it also means it is unlikely to be the worst performing.

Diversification provides the means to achieve a more consistent outcome and can help reduce the risks associated with overconcentration in any one country. By having a truly global investment approach, investors have the opportunity to capture returns wherever they occur.

Sherry Fitzgerald John Rohan are delighted to present this stunning 5 bedroom, 3 bathroom semi detached property. Situated on a generous corner site in the popular mature residential estate of Powerscourt on the Dunmore Road. The property is conveniently situated just minutes walk to University Hospital Waterford, Ardkeen Stores Shopping Centre, Tesco and a host of amenities, with Waterford City Centre just a five minute drive away. The property is in walk in condition and boasts a spacious rear extension which includes a large sunroom and office.

Accommodation comprises of entrance hallway, sitting room, lounge, sun room, office, kitchen/diner, utility room, downstairs WC and large bedroom with double doors leading to the large Indian Sandstone patio area. First floor accommodates 4 bedrooms, main en-suite and bathroom.

The property also has the benefit of a large shed/games room, UPVC double glazed windows, oil fired central heating and gardens to front and rear.

Viewings Strictly by appointment with Sole selling agents Sherry FitzGerald John Rohan.

BER Rating: C2 BER No: 109646414 Energy Performance Indicator: 188.8kWh/m2/yr

For further information contact Sherry FitzGerald John Rohan, Manor House, Cork Road, Waterford. Tel: 051 – 843 880. W: E: This email address is being protected from spambots. You need JavaScript enabled to view it.


Letters to the Editor


    Paradise papersOne of the most surprising things about the release of the copious amounts of tax details of some of the richest people on the planet wasn't the names of the people involved but the fact that three of them were actors from Mrs. Brown's Boys. Between them the three had accounts nearing 2 million euros in off-shore accounts and let's face it, these people aren't exactly Robert De Niros or Meryl Streeps but three bog standard, and that's putting it mildly, actors, from a middling comedy serie …

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