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Capital Markets Outlook - October 19, 2017

Epoch's Co-Chief Investment Officers Bill Priest and David Pearl, as well as Global Investment Strategist Kevin Hebner discuss the key reasons for our continued constructive outlook on equity markets. Topics include weaker inflation, the investment case for Europe, what we like and we don'tabout Japanese equities and the impact of Technology on capital markets.

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Capital Markets Outlook - October 19, 2017

Uncertain Times Highlight the Benefits of Active Management in Dividend Stocks

In a two part series on CNBC.com, Kera Van Valen, a portfolio manager for Epoch's Shareholder Yield strategies, highlights the benefits of investing in dividend paying stocks in uncertain times and the importance of active management in assembling a portfolio of dividend paying stocks.

Read It’s a Smart Move to Invest in Dividend-paying Stocks>
Read Shareholder Yield Must be Supported by Growing Free Cash Flow>

Uncertain Times Highlight the Benefits of Active Management in Dividend Stocks

Bill Priest Appears on BNN’s Money Talk

CEO, Co-CIO and Portfolio Manager Bill Priest appeared on BNN's Money Talk with Kim Parlee where he discussed potential tax reform in the U.S. and the repatriation of cash that might follow and the impact technology is having on the capital markets.

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Bill Priest Appears on BNN’s Money Talk
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We are global equity investors with a distinct perspective on the long-term drivers of shareholder return.

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OUR INSIGHTS

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Advantage from Perspective

Long-term investment success demands a focus on essential truths that are not always obvious. We focus on investing in companies with the enduring elements that create value: free cash flow and managements committed to providing positive returns to shareholders. Like the companies in which we invest, we are committed to transparency. This includes sharing our global market perspectives and insights that help drive our investment decisions.

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OUR INVESTMENT PHILOSOPHY

Investors often view a company through the prism of accounting measures such as price-to-book value and price-to-earnings ratios. Epoch adopts a different approach. Earnings growth and dividends drive shareholder returns, and they come from a single source: cash flow. We focus on companies that are growing free cash flow and allocating it intelligently.

Reinvesting cash flows in internal projects or acquisitions is preferred when those actions will generate returns above the cost of capital. Otherwise, we believe company managements should return excess cash to shareholders through dividends, share buybacks or debt repayments -- collectively known as "shareholder yield."

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IN THE NEWS

Kera Van Valen on Reuters

Shareholder Yield PM Kera Van Valen participated in the  Reuters Global Investment 2018 Outlook Summit. She discussed the shift in the technology sector that has made tech stocks viable for dividend investors. She also explored how non-tech companies have used technology to improving their productivity and ROEs.

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Bill Priest Appears on BNN’s Money Talk

CEO Bill Priest appeared on BNN's Money Talk where he discussed how the end of QE, technology becoming the market's driving macro factor, manuafacturing and the threat of protectionism.

Market Impact of the End of QE and Rising Rates (watch segment)>

Why Tech is the New Macro (watch segment)>

Manufacturing and Protectionism (watch segment)>

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