A year on, the presidency of Donald Trump may or may not have done much for international diplomacy. Most of the big initiatives he promised have yet to be delivered, from a promised $1 trillion infrastructure package to tax cuts.
His presidency, though, has been good for share prices. The Dow Jones industrial average is up by a quarter over the past year. It also has been good for Martin Currie Global Portfolio Trust, whose shares are ahead by 14 per cent since this column tipped them a year ago as a good way into US stocks generally.
The 54 per cent share price gain is roughly proportionate to the amount of the trust that is invested in the United States. It is a moot