The move by the US Federal Reserve to begin raising interest rates in the world’s largest economy has had a dire effect on many yield-sensitive investments such as cash and fixed income. But it has also affected the share prices of many well-known global brands. According to Marriott Asset Management, this is the ideal time to invest and take advantage of a once-in-a-decade bargain. "At the moment you can buy quality businesses at really good prices and this can be seen in the dividend yields of some great companies that we own including the likes of Pfizer, Coca-Cola, Colgate, Unilever, Diageo and Johnson & Johnson," says Duggan Matthews, head of investments at Marriott Asset Management, which manages about R21bn. The quality of the companies can be seen in their respective global franchises that extend to all corners of the world and their ability to grow earnings and cash flows. The relative attraction of these counters has been amplified by the prospects of the lacklustre local ...
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