As investors ponder how — and where — to invest this year, CNBC’s Tanvir Gill asked Knut Gezelius, lead portfolio manager at Skagen Global, where he sees opportunities in the current market.
The outlook for equity markets looks uncertain this year, given higher-for-longer interest rates, rising inflation and U.S. President-elect Donald Trump’s return to office.
Speaking to CNBC’s Tanvir Gill, portfolio manager Knut Gezelius revealed that he sees opportunities in sectors ranging from financials to artificial intelligence and those affected by the LA wildfires.
Gezelius is a lead portfolio manager at Skagen Global, managing $3.6 billion euros ($3.7 billion) in assets under the Skagen Global A fund. Launched in 1997, the fund seeks to identify undervalued companies with attractive risk-reward for long-term investors.
The value investor prides himself on making investments that go against the tide. His fund returned 23.75% in the 12 months to the end of November, although this was below its benchmark index. Top holdings include Alphabet Inc, Canadian Pacific Kansas City, JPMorgan Chase and MSCI Inc.
Gezelius joined Skagen in 2014 from Goldman Sachs Asset Management, where he served as an executive director in the Global Equity team. Prior to that he held positions as a senior lead analyst at power generation and distribution firm Entergy Corporation and senior consultant at investment management firm Applied Value Group.