Dividend growth is supposed to be the safe corner of the market —
but what happens when geopolitics, inflation shocks, and an
evolving AI trade collide all at once?
In this episode of In the Money with Amber
Kanwar, Amber sits down with Amritha Kasturirangan,
Co-Lead Portfolio Manager of the Franklin U.S. Rising Dividends
Fund at Franklin Templeton, to break down how she’s navigating
markets in a time of war. Running a $30 billion strategy built on
dividend growth, she explains why she’s not chasing yield — but
instead using consistent dividend growth as a signal of
resilient, high-quality businesses that can hold up through
uncertainty.
The conversation dives into how the market narrative has shifted
from early-year optimism to geopolitical anxiety, and what that
means for investors. Amritha walks through her framework for
thinking about the Iran conflict, why she believes markets may be
overpricing worst-case scenarios in private credit, and how the
AI trade is evolving beyond mega-cap tech into real-world
productivity gains. She highlights companies like Walmart (WMT)
and Goldman Sachs (GS) as examples of how AI is moving beyond
infrastructure into productivity — a shift she sees as both
healthy and investable. She also explains why this environment is
creating opportunities — not reasons to panic — for long-term
investors focused on quality and durability.
In the Mailbag, Amritha breaks down Microsoft (MSFT) and why it
remains a long-term winner despite the recent selloff, Nasdaq
(NDAQ) and whether exchanges are truly at risk from AI
disruption, Stryker (SYK) and why a recent cyberattack isn’t a
reason to sell, D.R. Horton (DHI) and the long-term case for
homebuilders despite rate pressure, and ExxonMobil (XOM) and how
to think about energy stocks in the context of geopolitical
shocks.
In Pro Picks, she starts with Parker-Hannifin (PH), a self-help
industrial story being re-rated as a long-term compounder with
exposure to aerospace and defense. Next is Analog Devices (ADI),
an under-the-radar chipmaker benefiting from secular trends like
automation, EVs, and the Internet of Things. And finally, Ross
Stores (ROST), an off-price retailer with a powerful “treasure
hunt” model, improving execution, and a new growth flywheel
driven by marketing and a younger consumer — all while continuing
to deliver strong dividend growth.
This is a playbook for investing when uncertainty is high: focus
on resilience, stay disciplined, and use volatility to your
advantage.
Timestamps
00:00 Trailer
02:20 Intro
04:00 Franklin Templeton’s dividend growth strategy
06:35 Dividend growth in a time of war
10:10 Private credit & software challenges
17:25 How big is the private credit/equity problem?
20:45 ETF Minute: Hamilton’s QMVP
22:15 ITM Mailbag: Microsoft stock (MSFT)
26:25 Walmart stock (WMT)
26:45 Nasdaq stock (NDAQ)
31:10 Stryker stock (SYK)
36:35 D.R. Horton stock (DHI)
39:25 Exxon Mobil stock (XOM)
42:05 Amritha’s Pro Picks (PH, ADI, ROST)
Sponsors
For over 25 years, Raymond James has been helping Canadians
achieve their financial goals. Visit https://raymondjames.ca
today to discover how you can live a life well planned.
Pro Picks is brought to you by ATB Financial. For more
information on ATB Cormark Capital Markets visit
https://ATB.com/inthemoney
ETF Minute is sponsored by Hamilton ETFs. To learn more about the
HAMILTON CHAMPIONS U.S. Technology Index ETF, visit
https://hamiltonetfs.com.
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The content provided in this podcast is for informational
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Microsoft which is a stock Amber owns.
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