In Healthcare: In this sector the fund is taking some money off the table “We sold off C.R. Bard (BCR),” explains McIver. “It is a low cost provider but we had concerns about their execution as a business. We saw better growth opportunities elsewhere.” One top holding is Varian Medical Systems (VAR), a leading designer of radiation therapy services and equipment. Given the unfortunate rise of cancer, the firm has a real sweet spot as the market provider. Their business model also bodes well for its continued success: When a customer (hospital) buys a product they also purchase upkeep and training for its staff, providing annuity down the road.Consumer Staples: There’s more opportunity here with brands and franchises, many of which are not new to the oversea markets. The Coca-Cola Company (KO), remains a favorite in that sense. According to McIver “North Korea and Cuba are the only two countries in the world where you can’t buy a coke. The strength of the brand and franchise is strong. The stock has high return on equity, rewards shareholders, grows their dividend, and has strong cash flow. As an investor, would you buy a 10-year U.S bond, which yields 1.65%, or Coke, with a dividend of 2.69%? Coke is clearly more attractive.”
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