Franklin's Bowers: Trump to surprise with policy success

Set to benefit financials

Franklin Templeton's Grant Bowers, manager of the £100m US Opportunities fund, has said people will be surprised how much US President Trump can achieve in his tenure, with financials in particular set to benefit from his policies.

California-based Bowers said he expects Trump will be able to pass his reforms, albeit in an amended form to his current proposals. He particularly highlighted planned healthcare and tax changes as being of interest for US fund managers. Do financials pose risk for investors as sector correlations leap to 2008 levels? Trump's 'once-in-a-generation' tax reform plans would cut the US individual tax brackets from seven to three and slash corporation tax from 35% to 15%.  It would also eliminate almost all tax deductions, including those for state and local taxes, meaning potential ...