Répartition des actifs

It’s less than six weeks to the US presidential elections. Capital Group has made a few rules of thumb for investors to give some guidance.

Solid growth companies will continue to live up to high expectations by showing strong profit growth. This offers the prospect of an attractive total return after inflation of 7-10% per annum on average over the long term, according to manager George Dent of the BNY Mellon Long-Term Global Equity Fund. 

Les entreprises à forte croissance seront à la hauteur des attentes élevées et afficheront encore une croissance substantielle de leurs bénéfices, ce qui offre à long terme la perspective d’un attrayant rendement total après inflation de 7 à 10 % par an en moyenne.

The high-yield market has recovered nicely from the corona-induced market crash, but further price appreciation is becoming increasingly unlikely, says manager Ulrich Gerhard of the BNY Mellon Global Short-Dated High Yield Bond Fund in an interview with Investment Officer.

C’est ce que dit Anna Lunden (photo), gérante du Wellington Pan-European Small Cap Equity Fund, dans un entretien avec Fondsnieuws. Sa catégorie a enregistré d’excellentes performances ces derniers mois, mais est restée ces dernières années bien en deçà de l’indice mondial.

Despite the Grand Duchy’s status as Europe’s largest investment fund centre, Luxembourgers hold almost four times more money in bank deposits than in funds.

Have hedge fund managers just lost it? More and more leading managers are returning assets to their clients. The reason is the melt-up of the market, making it ever harder for short-sellers to identify profitable trades.

For example, this summer John Paulson (photo), who earned $15 billion from the collapse of the US housing market in 2008, known as «The Greatest Trade Ever», announced his departure from the hedge fund industry. Others, such as George Soros, Stanley Druckenmiller and David Tepper, preceded him.

After the relaxation of the inflation target by the Fed, investment experts are rushing to predict a sustained rise in inflation. But for now, there’s no sign of inflation at all. Last week it even turned out that, for the first time since 2016, price levels in the eurozone had actually fallen.

Juvyns (JP Morgan AM) apprécie les thématiques de croissance dans un contexte économique qui s’annonce moins mauvais que prévu grâce aux interventions massives des banques centrales et des gouvernements. La Chine reste également un pari fort dans la stratégie d’allocation.

Schwarz (MainFirst Asset Management) reste convaincu qu’un positionnement sur les valeurs d’hyper-croissance va rester une stratégie capable de délivrer des performances exceptionnellement fortes pour les investisseurs, qui ne sera en outre pas perturbées par les remous des cycles économiques ou des échéances électorales.