Portfolio manager Aneta Wynimko discusses the new global consumer landscape, where consumer spending is taking place and how that might change following the vaccine rollout. As a result of lockdowns, Aneta believes, people will want to get out and socialize as soon as they can, and the businesses that allow consumers to enjoy experiences, such as restaurants, could thrive because of this. She is increasing her exposure to companies she thinks will benefit from increased consumer consumption once lockdowns have been lifted. There is currently $1.4 trillion in excess savings in the U.S., due to limited spending opportunities, notes Aneta. Rather than reacting to inflation concerns, Aneta is holding tight right now, and focusing on companies with pricing power and efficiency as things to return to normal. She thinks that a little bit of inflation is good for the market; the problems occur when we get into high inflation.
Recorded on March 16, 2021.