Asset Allocation Outlook September

12 September 2023

Asset Allocation Outlook

August was a quiet month for the financial markets. Yet investors were unable to derive much pleasure from the main asset classes. Equities noted minor losses, with the MSCI global equity index decreasing by 3.0% in local currency. The biggest loss of 6.4% was in emerging markets and the smallest of 1.8% in the US.

Please see Kempen’s Asset Allocation Outlook for September. The highlights this month are:

Economic outlook remains poor
Inflation falling but no sign of interest rates being cut yet
Portfolio sensitivity to interest rates increased

Download the Asset allocation

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There’s a saying in Dutch, Kom verder, it means many things and it’s our business philosophy. It captures the way we work with clients but also the way we steer our investee companies to deliver shareholder value through active engagement.

Capital at risk. The value of investments and the income from them can fall as well as rise, and investors may not get back the amount originally invested. Past performance provides no guarantee for the future.