Hi, this is Tony Dispirito, Global CIO of Fundamental Equities.
And I want to tell you about one of the investment themes that I'm most excited
about for the second half of 2024.
And that's the theme of reshoring.
So what is reshoring?
Reshoring is basically bringing production back to the end
market where the sales occur.
So in the case of the United States, it's about bringing production
back to the US and to our NAFTA partners in Canada, Mexico.
And this is going to impact a wide swath of industries.
It's going to impact.
Semiconductors where companies are building new chip plants, the United
States to take advantage of the chips act.
It's going to affect industries such as autos, where companies
are moving production back to the U S and Mexico, particularly with
respect to electric vehicles.
It's even impacting an industry like healthcare, where there were shortages
of certain generic drugs during COVID 19.
When you think about reshoring, it's really about reducing risk.
It's about building resiliency It's about reducing the risk of supply shortages.
It's about reducing the risk of tariffs.
It's about reducing political risks, etc.
And so we're particularly excited about being able to implement on
this strategy in an active way.
So we can take advantage of whatever price movements and supply and demand movements
happen as this economic change occurs.
Thanks for listening.