Wealth management firm Brown Shipley is repositioning portfolios away from US assets, citing concerns about political uncertainty, a $1.83 trillion budget deficit, and slowing growth.
The S&P 500’s 5.7% decline this year has underperformed other markets, prompting a strategic shift.
The firm is now overweight in three key areas: gold (up 18.2% YTD), which benefits from uncertainty and central bank buying; emerging markets (up 4.4% YTD), which could gain from dollar weakness; and Japanese equities, which offer low valuations and benefit from corporate reforms.
Chief Investment Officer Daniele Antonucci emphasizes they’re not abandoning the US entirely but recognizing it won’t be the only profitable region going forward.