8 May 2024
Asset Allocation Outlook
April was a difficult month for investors as both equities and bonds lost ground, incidentally without causing significant panic. Although an upturn was visible in the VIX index, which measures US equity volatility, it was of shorter duration and less pronounced than in October last year. The MSCI global equity index noted its first monthly downturn since October last year. This downturn derived from industrialised nations. Remarkably enough, given the turbulence in currencies, the emerging market index noted a small upturn. This tells us the origin of the turbulence - interest rate fears in the US - and explains why equities fell more sharply in the US than in the Eurozone or Japan.
Please see Van Lanschot Kempen’s Asset Allocation Outlook for May. The highlights this month are:
Please see Van Lanschot Kempen’s Asset Allocation Outlook for May. The highlights this month are:
- Eurozone economy exits recession, US stable
- Uncertainty surrounding outlook for earnings
- Investment policy unchanged
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.
Il y a un dicton en néerlandais, Kom verder, qui ui signifie beaucoup de choses, et c'est notre philosophie d'entreprise. Il reflète la façon dont nous travaillons avec nos clients, mais aussi la manière dont nous dirigeons nos entreprises participantes pour créer de la valeur pour les actionnaires grâce à un engagement actif.
Risque de perte en capital. La valeur des investissements et des revenus qui en découlent peut évoluer à la hausse comme à la baisse. Les investisseurs sont susceptibles de ne pas récupérer l’intégralité de leur investissement initial. Les performances passées ne présagent pas des performances futures et ne sont pas constantes dans le temps.
Risque de perte en capital. La valeur des investissements et des revenus qui en découlent peut évoluer à la hausse comme à la baisse. Les investisseurs sont susceptibles de ne pas récupérer l’intégralité de leur investissement initial. Les performances passées ne présagent pas des performances futures et ne sont pas constantes dans le temps.