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CIO Lens - September 2024

Dynamic Share To Cash Strategy

The concept of ‘US Exceptionalism’ is not a new phenomenon. Whether or not the US is truly exceptional has been a point of debate among scholars, political commentators and, of course, investors like ourselves for some time. In the 15 years to the end of August 2024, the S&P 500 Index has outperformed the MSCI EAFE* index by 470%. This dominance has been underpinned by a number of factors, but with the Presidential election outcome just weeks away and its potential impact on domestic and international policy, clients are increasingly asking us whether it can last? Can US exceptionalism continue to deliver for investors, or will it run out of steam?