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JB Tracker Certificate on the Communications Basket

Communications is a fast-growing sector benefiting from various structural trends. The newly composed sector represents an interesting mix of defensive value stocks and structural growth stories. It consists of the former telecommunications sector as well as entertainment, media and publishing stocks.

Given its composition, this new sector is enjoying many structural tailwinds such as connectivity, data ownership and data growth. Also, despite the relatively strong earnings prospects, valuations are low, as political and regulatory issues have depressed prices, and thereby created attractive investment opportunities.

Investors should be aware that the sector has a large exposure to US stocks (around 75%) and is dominated by a relatively small number of large-cap companies.

While Julius Baer maintains a neutral rating on the telecommunications sub-sector, structural growth stories for entertainment, media and publishing, and internet services are the bright spots of the whole communications sector. Also, the dependency of communications stocks on economic growth and lower commodity prices is below average. As a result, our Research team recently upgraded the whole communications sector to overweight.

Investors looking to gain exposure to this sector could consider investing in a range of communications-related companies via the Julius Baer Tracker Certificate on the Communications Basket. This tracker certificate is currently in subscription and allows investors to fully participate in the performance of the underlying basket, which consists of 12 stocks.

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