12 March 2024
Asset Allocation Outlook
After a tentative upward movement in January, sentiment improved on the equity markets in February. Gains were noted in all the major regions, with little difference between the upturns. Several indices, including the US S&P500 and Japanese Nikkei, set new records. February’s gains translated into a significant improvement for emerging markets and especially China. Equities succeeded in maintaining the upward trend despite the higher bond yields. Both short and long-term yields climbed in the US, UK and Germany. The main reason for this was expectations that central banks will cut interest rates later than previously anticipated. The optimistic mood was also reflected in the tighter spreads on credits, especially in the high yield asset class. The higher bond yields and negative news about the sector meant that real estate was unable to profit from the positive sentiment.
Please see Van Lanschot Kempen’s Asset Allocation Outlook for March. The highlights this month are:
Please see Van Lanschot Kempen’s Asset Allocation Outlook for March. The highlights this month are:
- Equity markets set new records
- Cuts to interest rates pushed back
- Position in US government bonds reduced in favour of Eurozone
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.