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Marc de Kloe By Beverly Chandler, Opalesque London:
Speaking at the Opalesque Monaco Roundtable – which will be published in July 2012 - Marc de Kloe, Alternative Investments Manager, ABN AMRO Private Banking
said that ABN AMRO Private Banking has moved from Neutral to Overweight on hedge funds, increasing allocations from 5% to 8% in its client portfolios.
ABN AMRO’s aim is to utilise hedge funds to navigate macroeconomic and policy risks, citing global macro, CTA, relative value and event driven strategies as insurance against economic and policy risks. Long/short equities retain a negative rating.
The bank’s Quarter 3 Investment Outlook 'Gauging value' finds that the firm remains Overweight on Asian and Latin American emerging-market equities and in the
Industrials and Consumer Staples sectors, but retains an overall Neutral position on equities.
Underweight allocations are held for commodities and fixed income, with high-quality corporate bonds
preferred – particularly in Asia. The bank writes that it is wary of safe-haven government debt, with record low
yields vulnerable to interest-rate rises.
The bank reports that continued value and portfolio diversification are seen in companies operating at the crossroads of
'megatrends’ – industries in which demand has proved robust during the economic downturn or in which
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