Sanlam's Veysey ups US exposure as tax reforms take effect

Near 20% in US Treasuries

Sanlam FOUR manager Craig Veysey is increasing his exposure to the US in his Strategic Bond fund in light of President Trump's tax reforms.

Veysey (pictured) has 19% allocated to US Treasuries, out of a total exposure to government bonds of 25%, and a further 8% in US credit positions, both of which he said he is looking to increase further in 2018. Trump's $1.5trn tax bill was passed by the US Senate last December and has been described as the "most sweeping overhaul" of the US tax system in 30 years.  Trump unveils 'once in a generation' tax reform plans It will see corporate taxes permanently reduced from 35% to 21%, which will be good news for large businesses, and is also expected to entice US companies with offsh...