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Global Growth Good for Portfolio: Stock Picker

Strength in fixed income markets is going to continue to drive equities higher, said Ryan Caldwell, portfolio manager at Ivy Asset Strategy Fund. He shared his portfolio strategies and stock picks with investors.

“Our portfolio is tilted toward global growth,” Caldwell told CNBC. “We’ve had a big revaluation and everything that’s cheap across the globe given that the world really didn’t end. Credit spreads have collapsed, so the marginal companies that we all thought were going to go out of business back in March and April have had a tremendous run in the last few months.”

Caldwell said approximately 15 percent of his portfolio is in gold.

“We hold physical gold bullion … Our premise of investing in gold is that it’s the only currency in the world we’re comfortable with,” he said. “We’re not bullish on any currency anywhere in the world except for gold, given what central banks are doing around the world. So we want to be as close to the physical asset as we could … We can use gold futures in this product to hedge gold.”

Caldwell Likes:

Taiwan Semiconductor Manufacturing

Mediatek

Qualcomm

Wynn Resorts

China Life

Industrials and Commercial Bank of China

More Market Intelligence:

CNBC Data Pages:

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CNBC Slideshows:

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Disclosures:

Caldwell and his family members own China Life, TSM, Mediatek, QCOM and ICBC via owning WASAX Fund.

Caldwell’s Ivy Asset Strategy Fund owns more than 1 percent of TSM, China Life and ICBC Mediatek and Qualcomm.

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