Le fonds OYSTER US Selection offre une exposition aux actions américaines. Depuis le début de l’année, cette classe d’actifs a généralement surperformé les actions d’autres régions. Plusieurs facteurs sont favorables, comme notamment la solidité des statistiques nationales (un faible taux de chômage, une forte consommation) et les réformes structurelles (la baisse de l’impôt sur les sociétés). Les valorisations sont plus raisonnables qu’il y a quelques trimestres. Les ratios cours/bénéfice sont revenus à des niveaux du début de l’année 2017 et offrent ainsi un nouveau potentiel d’expansion.
Le fonds privilégie les sociétés ayant une capitalisation boursière comprise entre 3 et 30 milliards de dollars américains sur la base des valorisations actuelles. Celles-ci sont en effet généralement plus liées à l’économie intérieure américaine que les actions des méga-capitalisations. Elles ont ainsi moins de risques de pâtir des guerres commerciales.
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