Investors should capitalize on the best stock-picking conditions in 'quite some time' and buy on any election-related weakness, says an adviser at the world's largest wealth manager

Brendan McDermid/Reuters

• Investors should capitalize on the best stock-picking conditions in "quite some time" and buy on any election-related weakness, according to UBS's Frank Panayotou. 
• The financial adviser said on Monday that stocks in healthcare, industrials, consumer discretionary, and global markets look attractive to him right now.
• Markets will continue to be supported by global monetary and fiscal policy, and that's why Panayotou says investors should remain in stocks. 
• "Any pullback in the market will be an opportunity for long-term investors to add to risk and further re-balance portfolios into equities," he added.
• Read more on Business Insider.

Investors should capitalize on a strong stock-picking environment right now and view the upcoming election-based volatility as a buying opportunity, according to a UBS Private Wealth Management adviser.

"Despite the obvious economic challenges, the landscape for active investors remains one of the best we've seen in quite some time," said Frank Panayotou on Monday. He pointed out that while some portions of the economy have been hit hard by the coronavirus, other areas "have seen their prospects enhanced or accelerated by structural shifts in activity."

Panayotou listed healthcare, industrials, consumer discretionary, and global stocks as four sectors he likes best right now. 

Read more: A CIO who earned up to 90% per trade during the March crash offers his 2 best strategies for protecting against Trump-driven volatility — and says the president's diagnosis will be the catalyst for a further sell-off

He also said that investors should expect near-term volatility stemming from the US election and concerns over an additional economic shutdown if a second wave of the coronavirus emerges. However, any drops in the market should be viewed as a buying opportunity, as an additional fiscal stimulus and the Federal Reserve will continue to provide support for markets. 

"Any pullback in the market will be an opportunity for long-term investors to add to risk and further re-balance portfolios into equities," Panayotou said.

"We expect global central bank policy to be the key ingredient for supporting the continued healing of the global economy and a move back to more normal economic activity," Panayotou added. "Despite these assurances, markets will remain diligent for any signal that central banks could remove support prematurely before reaching a sustainable global economic recovery." 

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See Also:

• A CIO who earned up to 90% per trade during the March crash offers his 2 best strategies for protecting against Trump-driven volatility — and says the president’s diagnosis will be the catalyst for a further sell-off
• A portfolio manager who's outperforming nearly all of her peers this year shares 4 high-conviction stocks driving her strong performance across 2 funds
• The CEO of a $41 billion money manager says there will be 'bountiful buying opportunities' with higher volatility heading into year-end — and shares 4 high-dividend-paying stocks to play this market