Investissement

Les turbulences du premier semestre ont été sensibles au niveau des flux de fonds. Les six premiers mois de l’année ont surtout été marqués par un regain d’intérêt pour les fonds obligataires, un engouement pour les marchés émergents et une part de marché croissante des stratégies passives.

A turbulent first half of the year has had a clear impact on fund flows, with renewed investor interest in bond funds, increased focus on emerging markets, and continued growth of passive strategies defining the landscape for the first six months of 2023. BlackRock’s iShares and Vanguard led the pack in terms of inflows during the first half. 

Investment managers are shifting fund investments towards Exchange Traded Funds (ETFs) at the expense of traditional mutual funds. The shifts are clearly visible both in Ireland and Luxembourg, Europe’s two leading hubs for ETFs, according to insights from LSEG Lipper. BlackRock was the biggest-selling fund promoter in the first half, accounting for more than half of all European ETF inflows.

There is an unwavering demand on the debt as well as on the equity side of private markets, writes Martin Groos, member of the management board at Universal Investment Luxembourg.

Sur les marchés des obligations à haut rendement, comme sur les marchés d’actions, les opérateurs ne semblent pas escompter de récession imminente.

In the wake of a sturdy first half characterised by ebbing inflation, stellar tech-driven stock market performance, and soaring bond yields, economists and investment strategists predict a reduced recession risk for the latter half of 2023, a survey by Natixis Investment Managers shows. “Recession is still a real possibility, but most expect a softer landing,” said Mabrouk Chetouane, head of global market strategy at Natixis IM.

The European Central Bank is set to make headlines again on Thursday as it is widely expected to raise its benchmark interest rates by another 25 basis points. The financial world is keenly watching to gauge the ECB›s plans for September and beyond.

De nombreux analystes pensaient que les économies émergentes resteraient vulnérables aux hausses de taux d’intérêt en 2023. Elles le furent moins que prévu, et cela n’a pas échappé aux investisseurs.

Alors que la pression monte pour que les investisseurs allouent de plus grandes portions de leurs portefeuilles à des alternatives, Stuart Dunbar, un associé et directeur du gestionnaire d’investissements basé à Édimbourg, Baillie Gifford, souligne la nécessité d’une réflexion soigneuse. Il met en lumière la rareté des opportunités de haute qualité comme un facteur critique. «Nous ne pouvons pas simplement nous précipiter vers les alternatives.»

Goldman Sachs Asset Management has successfully raised over 200 million dollars with its inaugural European Long Term Investment Fund, Private Markets Eltif 2023. The fund offers individual investors direct access to investments in the private market and is managed by Goldman Sachs Asset Management, a leading global investment firm overseeing over 450 billion dollars in alternative assets.