Last week I shared some of the results of the NAPS strategy in US markets. While there are many ways to implement this strategy, at its simplest the NAPS just purchases the top 2 ranked shares in each of 10 sectors and holds for a year, rebalancing annually ad-infinitum. I thought I'd share some further results from other markets for your perusal.
Australasia
As some may know, I'm married to an Australian and have a lot of family in Sydney. Australia is our second largest subscriber region after the UK and I've got a keen personal interest in seeing the service thrive down under. Australia is an interesting market as it is rather dominated by basic resources sectors - nonetheless there are profitable, durable businesses across all sectors. We didn't launch coverage of Australia until 2016, but in spite of a nasty recent drawdown the NAPS has returned 11% annualised (before dividends) against the ASX All Ordinaries at 4.5% annualised.
Europe ex-UK
The set of markets below includes what you'd traditionally call Western Developed Europe ex UK. A 10% annualised return for the NAPS is double the 5% for the FTSEurofirst ex-UK index, but the...
