NEW YORK (TheStreet) -- Healthcare was the second best performing sector in the S&P 500 this year, but according to Carin Pai, executive director of equity management at Fiduciary Trust, the sector still makes for an attractive investment.
There have been a lot of positive developments in the biotech industry, with treatments for cancer and diabetes, among other diseases, she explained.
But it's not only in the drugs and treatments industry where the business still looks attractive, but in other areas as well. For instance, hospitals should continue to benefit from the increase in demand for healthcare. They will also benefit from an increase in efficiency and a reduction in costs as well.
Turning to consumer discretionary companies, it's "really important" for them to have a "very strong digital strategy," she reasoned. online sales are growing about five times faster than traditional bricks and mortar sales.
For that reason alone, it's important for retailers to have an omni-channel presence that incorporates an effective e-commerce strategy. It's also important for retailers to monitor how consumers shop, not just how much they spend, Pai said.
Many companies still have painful memories of the Great Recession. Because of this, they're always looking for increased productivity, decreased costs and more efficiency.
As a result, there's a growing market for technology companies that can help other corporations to grow while managing their data more efficiently.
Specifically, cloud companies continue to benefit other businesses by boosting efficiency without adding a large burden onto its costs, she said.
-- Written by Bret Kenwell
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.