Within technology, Bowers sees bouts of volatility as a buying opportunity. He claims the outlook for spending remains strong, as many companies have realised that investments in technology improvements are required to remain competitive in the global marketplace.
“New software, factory automation and data analytics can all improve productivity and lower the cost of production for companies, keeping them ahead of the competition,” he said.
“Some of the areas of technology that we are focused on are cyber security, Software as a Service (SaaS), cloud computing, digital payments, mobility and smart devices.”
Healthcare will be driven by an ageing population and demand from improved treatments and cures: “This demographic tailwind combined with innovation in drug development and medical technology is creating numerous investment opportunities as well.”
He concluded: “As long-term investors, we always try to look through the short-term market noise and identify sectors and companies that are benefiting from large multi-year growth trends.
“Often these trends are driven by disruptive technologies, innovation, changing consumer habits or demographic shifts. The types of broad-based selloffs like the one we have seen recently typically create opportunities for long-term investors to buy high-quality companies at attractive prices.”
