Classical portfolio theory holds that different sectors and asset classes outperform at
different stages of the economic cycle.
The Australian economy at
a different stage of the economic cycle compared to other regions around the globe, he notes.
The combination of these characteristics, which tend to outperform at
different stages of the economic cycle, offers investors the potential for outperformance across a broad range of market environments.
The health care sector tends to perform well through
the different stages of an economic cycle because of the population's perpetual need for health care and its services.