Fonds-Blog-SJB: Mehr. Als Fonds. Kaufen. Von Gerd Bennewirtz.

Bei der FondsAuswahl zählt die Unabhängigkeit vom Anbieter!FondsAnbieter-GAM: Back in February, our view was that emerging markets were best approached using a combination of straight bonds and forward-starting swaps. We are pleased to say this strategy has worked well over recent months, and fund performance has been further supported by falling yields.

We tempered our positioning by part-hedging the underlying credit and currency, so the net positive performance was dented by tightening spreads and currency appreciation. For example, the Brazilian real has led the FX pack over the past two months or so (since 19 February), returning close to 9.0%, followed by the Colombian peso, Turkish lira and South African rand. In contrast, the worst performers have been the Chinese renminbi, Chilean peso and Japanese yen – and when including developed markets, the US dollar can be added to the underperformers list. Fortunately we have managed to avoid having any significant exposure to these.

SJB. Fonds. Logo.…weiterlesen

Kategorien: Anbieter. Berichten.
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Bei der FondsAuswahl zählt die Unabhängigkeit vom Anbieter!FondsAnbieter-GAM: Looking at the market backdrop, European companies have seen persistent earnings downgrades by analysts for several years now. Initial growth forecasts at the beginning of each year have been buoyant at 10–12%, but these have subsequently not materialised. For this year, expectations have now dropped to just 1% earnings growth. With economic data in China and peripheral Europe improving, we would expect this trend of downgrades for this year to come to an end. For 2014, growth expectations are currently at 10%, for which, in order to be achievable, we would need to see a material pick-up in economic activity. SJB. Fonds. Logo.…weiterlesen

Kategorien: Anbieter. Berichten.
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Bei der FondsAuswahl zählt die Unabhängigkeit vom Anbieter!FondsAnbieter- Charlemagne Capital: Emerging markets ended January broadly unchanged as initial strong gains failed to stick though investors remained generally upbeat, with the New Year getting off to a confident start. Individual markets were mixed with strength in Russia and MexicoFortlaufende Nachrichten zur Schulden und Staatskrise. countered by more marked weakness inSouth Africa andKorea.

The portfolio again returned a strong performance, with company-specific developments largely to thank. In Thailand, state-controlled lender Krung Thai Bank put on 15% following strong results, with net interest income up 16% over the calendar year supported by strong loan growth and lower SJB. Fonds. Logo.…weiterlesen

Kategorien: Anbieter. Berichten.
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