Investment Officer Netherlands

The European ETF market grew in January by a record 46.9 billion euro. In the shadow of that growth, a price war is taking place: mainstream ETFs are now being offered with an expense ratio of 0.03 percent. Will Europe soon welcome the “free” ETF, as in the US?

Listed real estate has become one of the most conspicuous laggards in global markets. After four consecutive calendar years of underperformance against the MSCI World, valuations now sit below their historical median relative to broader equities, according to Cohen & Steers. For long-term allocators, the question now is whether this reset offers a cyclical entry point or a structural repricing.

Investments in private markets are still characterized by limited information and imperfect transparency, particularly when compared with public assets. Asset managers increasingly see economic value in addressing that gap, turning greater transparency into a business model in its own right.

Political nervousness is rising over the potential victory of the far right in the French presidential elections of April 2027, as that could lead to less European integration. But the Investment Centre at ING Belgium currently sees no reason to adjust its investment policy.

Sinds de herverkiezing van Trump als president van de Verenigde Staten staat de wereld op scherp. Geopolitieke spanningen domineren de beurzen en de rol van de dollar staat opnieuw ter discussie. Toch heb ik moeite om dat te vertalen naar de gedachte dat dit hét moment is voor de euro om uit de voetsporen van de greenback te treden. Daarvoor zijn er te veel losse eindjes.

The already downward-trending stock prices of major US private credit firms took another hit this month amid the markdown of the software sector and concerns about AI. While executives are trying to contain those concerns, analysts say market participants may already be pricing in risks that could affect clients later.

The election result in Japan was historic. For the first time since World War II, one party secured a two-thirds majority in parliament. Prime Minister Takaichi can now implement her plans without the compromises that have so often paralyzed Japanese politics. The stock markets responded positively: prices rose and records were broken. This is the first effect of the coming reflation on Japan’s financial markets.

Rising budget deficits have caused government bonds to lose much of their appeal as a safe haven for investors. High-quality corporate bonds have subsequently moved up the ranks. Has the rally run its course? Samuel Gruen, fixed income specialist at Rothschild & Co Asset Management, examined the European market from a historical perspective.

With the Dutch House of Representatives (Tweede Kamerlid) passing the Actual Return Box 3 Act last week, the Netherlands will introduce “paper gains” as a basis for taxation starting in 2028. That is entirely unique in Europe. The patchwork of solutions Europe has devised for this tax will therefore gain a new addition.