Laura Bottega, lead product specialist for the Morgan Stanley Global Brands fund, discusses the fund’s strong performance in the recent market sell-off. She tells us that companies are probably looking at two lost years of earnings and that a V-shaped recovery is unlikely: expectations are too high and the pandemic remains a risk. “We've never seen a vaccine being discovered and manufactured in four years, let alone two, and that makes the outlook far more uncertain and volatile than we believe the market is assuming,” she says.

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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.