12 September 2023
Asset Allocation Outlook
August was a quiet month for the financial markets. Yet investors were unable to derive much pleasure from the main asset classes. Equities noted minor losses, with the MSCI global equity index decreasing by 3.0% in local currency. The biggest loss of 6.4% was in emerging markets and the smallest of 1.8% in the US.
Please see Kempen’s Asset Allocation Outlook for September. The highlights this month are:
- Economic outlook remains poor
- Inflation falling but no sign of interest rates being cut yet
- Portfolio sensitivity to interest rates increased
Disclaimer
The information in this publication is of a general nature. This publication may at no time be viewed as an offer and you cannot derive any rights from this publication. The external sources used to produce this publication were selected with the great care. We cannot guarantee that the information and data from these sources is up-to-date, correct and exhaustive. We accept no liability for printing and typing errors. We are not obliged to update or amend the contents in this publication. All rights related to the content of this publication are reserved, including the right to amend.
The information in this publication is of a general nature. This publication may at no time be viewed as an offer and you cannot derive any rights from this publication. The external sources used to produce this publication were selected with the great care. We cannot guarantee that the information and data from these sources is up-to-date, correct and exhaustive. We accept no liability for printing and typing errors. We are not obliged to update or amend the contents in this publication. All rights related to the content of this publication are reserved, including the right to amend.
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Capital at risk. The value of investments and the income from them can fall as well as rise, and investors may not get back the amount originally invested. Past performance provides no guarantee for the future.
Van Lanschot Kempen Investment Management (UK) Limited is registered in England & Wales with registration number 02833264. Registered office at 20 Gracechurch Street, London, EC3V 0BG Tel: +44 (0)20 3636 9400. Van Lanschot Kempen Investment Management (UK) Ltd, is authorised and regulated by the Financial Conduct Authority (FCA) with reference number 166063.