Mon, Oct 20, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

You need to be more diversified because valuations are not that attractive anymore

Wednesday, June 04, 2014

amb
Tilmann Galler
Benedicte Gravrand, Opalesque Geneva:

Tilmann Galler, a client portfolio manager and global market strategist at J.P. Morgan Asset Management in Frankfurt, is responsible for equity and multi asset portfolios. He share his perspectives with Sona Blessing in a recent Opalesque Radio interview on asset allocation, possible headwinds and optimising risk-reward premiums.

J.P. Morgan’s scenario for the reminder of the year is quite constructive, he says, as for the first time in many years, there is a synchronised recovery in the developed world, especially in Europe’s periphery and core.

There are still headwinds though, especially political ones in Eastern Europe, which could hurt the recovery. Also, China might experience a harder landing than expected. Although the latter is not very likely to happen this year, he adds, as the current dose-by-dose reduction of credit will be met with economic stimulation when economic growth decreases.

Positioning a portfolio to minimise potential losses and optimise positive performance, given the headwinds, should encompass diversification of holdings, he explains. "Even if you are positive on risky assets like we are, and we are still positive and bullish on equities and bonds, and we still prefer high yield inside the fixed income space… you need to be more diversified because valuations are not that attractive anymore. And you need to be pr......................

To view our full article Click here

Banner

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Roundtable: Where are all the good ESG hedge funds?[more]

    Benedicte Gravrand, Opalesque Geneva: What are the benefits of sustainable investing? Many pension funds look to focus on that angle to reflect their company’s good governance, but face many challenges while doing that. A portfolio manager at Univest, a large Dutch pension fund, discusses this is

  2. Bill Gross gives his first investment outlook for Janus fund[more]

    Bill Gross strikes a gloomy tone in his first note to investors at his new gig at Janus Capital. Bill Gross, the renowned bond fund manger, struck a pessimistic chord in his first note to investors at his new gig at Janus Capital. His notes, usually full of silly commentary and upbeat advice, took a

  3. Investing - Big investors move to shore up Fannie, Freddie trade, Two hedge funds eye $1bn support to Sahara to secure Subrata Roy's release[more]

    Big investors move to shore up Fannie, Freddie trade From Forbes.com: Two of the nation’s most prominent investors who have been leading the charge to make a big score out of the shares of Fannie Mae and Freddie Mac moved on Friday to shore up shares of the mortgage giants that plunged r

  4. Opalesque Exclusive: What's next for trend followers?[more]

    Bailey McCann, Opalesque New York: New research out from Ibbotson touches on a key debate happening among investors and fund managers, specifically whether long term trend followers can survive in the new

  5. Hedge funds post negative returns in the third quarter[more]

    Bailey McCann, Opalesque New York: Q3 hedge fund returns were negative, marking the industry's first quarterly decline since Q2 2013 according to the latest hedge fund data from eVestment. Emerging markets saw losses more than twice that of developed markets. Declines from funds investing in