Dynamic Markets, Agile Thinking

As US election approaches, ignore the noise and consider quality stocks

Whatever the outcome of the upcoming US elections, a divided government is likely, making legislative agendas difficult to achieve.  Marco Pirondini, Amundi US’s Chief Investment Officer, explains why this environment makes it even more important for investors to consider quality stocks with reasonable valuations.

Passive to Active:  Words of Wisdom from Ted Lasso

Are the Magnificent Seven losing their shine? Dive into our latest market insights, with words of wisdom from Ted Lasso, to uncover why the shrinking earnings advantage of the S&P 500’s top players might signal a shift. Plus, explore how this could pave the way for active managers to pursue new opportunities.  

Read our paper,  Passive to Active:  Words of Wisdom from Ted Lasso

Higher quality growth stocks have outperformed the broader market over time 

Higher quality growth stocks have outperformed the broader market over time. We believe that a focused portfolio of companies that meet our three quality requirements – high returns on growth capital, sustainable competitive advantages, and secular growth opportunities – can generate attractive risk-adjusted returns over a full market cycle.

High Quality and Low Quality in the chart are determined by a composite score based on ROE, earnings stability, YoY sales growth, net margin, sequential trend stability of ROE, and net cash ratio volatility. Higher scores suggest higher quality.

Source: Alliance Bernstein. Data range: February 1, 1990 – September 30, 2024. Data is based on past performance, which is no guarantee of future results. For more information, please see Terms and Indices below.

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Please visit our Mutual Fund  page to find our full list of mutual funds.

Terms & Indices:

Cyclicals: Stocks whose performance moves in sync with trends in the economy, often because they make or sell items and services that are in demand when the economy is doing well. Valuation:The process of determining the value of an investment, asset, or security. Net cash ratio: The ratio of net cash minus liabilities. Trend stability: Used to predict future stock price movements based on observed trend data. Year-over-year (YoY): Measures the rate of change in a metric across two comparable periods. Return on equity (ROE): Measure of financial performance calculated by dividing net income by shareholders' equity.

The Russell 1000 Growth Index measures the performance of large-cap U.S. growth stocks.

Indices are unmanaged and their returns assume reinvestment of dividends and do not reflect any fees or expenses. It is not possible to invest directly in an index.

Unless otherwise stated, all information contained in this document is from Amundi Asset Management US (Amundi US) and is as of 3/31/2024.

Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your financial professional or Amundi US for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it from our  literature section.

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