Equities

The fundamentals and demographic trends for the healthcare and biotech sector remained strong in 2019 and we expect some of the key themes from this year to continue to play out in 2020.

The small to mid market cap biotech/healthcare section of the market has had a banner year in 2019 with numerous stocks enjoying the benefit of success in the clinic as well as regulatory and commercialisation success.

We have selected three stocks which we believe will deliver a solid performance in FY20. Our top picks for the Industrials sector are Imdex (IMD), Carbon Revolution (CBR) and Frontier Digital Ventures (FDV).

Our top three stock picks for 2020 in the Engineering & Construction sector include Monadelphous (MND), Lycopodium (LYL) and Service Stream (SSM).

Due to the cyclical nature of investments in the Travel & Tourism sector, we've chosen stocks with a diversified business model across multiple travel businesses with exposure to global growth opportunities.

On the back of challenging macro stimulus and cautious discretionary spending, our top picks focus on retailers that offer growth through global expansion opportunities or structural tailwinds (such as the shift to online).